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If oligopoly firms decide to work together, either formally or informally, and honor the agreement then profits can be ________ by ________ output and ________ the price of goods and services. maximized; increasing; increasing maximized; increasing; increasing maximized; reducing; increasing maximized; reducing; increasing minimized; reducing; increasing

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If the oligopoly firms decide to work together and honor the agreement, then, profits can be maximized by reducing output and the increasing price of goods and services.

The market of oligopoly firm is one that consists of small number of firms that have substantial influence in the particular industry.

Some oligopoly market include auto industry, air travel industry etc

Either formally or informally, If the oligopoly firms decide to work together and honor the agreement, then, profits can be maximized by reducing output and the increasing price of goods and services.

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