If an oligopoly does not cooperate and each firm chooses its own quantity, the industry will produce
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If an oligopoly does not cooperate and each firm chooses its own quantity, the industry will produce a quantity of output _________ the competitive level and _________ the monopoly level.
a. less than; more than
b. more than; less than
c. less than; equal to
d. equal to; more than
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