Business, 07.03.2020 05:35, hahahwha

Assume there are currently five firms producing and selling computer chips in the European market. Also assume that the product is differentiated and barriers to entry are high in the industry, making this market an oligopoly. If two firms were to exit the market, economists expect the equilibrium price will likely:

a. not change
b. decrease
c. increase

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Assume there are currently five firms producing and selling computer chips in the European market. A...