If one firm left a duopoly market where the firms did not cooperate then
A)price and quantity would rise.
B)price would rise and quantity would fall.
C)quantity would rise and price would fall.
D)quantity and price would fall.

Question

Quizplus · Accepted Answer

In a duopoly where firms do not cooperate, if one firm leaves the market, the remaining firm becomes a monopoly. This typically leads to higher prices and lower quantities as the monopolist maximizes profit by reducing supply to increase price.

If One Firm Left a Duopoly Market Where the Firms