QL An oligopolistic firm prefers not to raise price. If the firm raises price, There is no impact on the total revenue earned by the firm . More competitors will enter the industry which makes competition stiffer Its competitors will do the sarme which makes competition stiffer c. d. Its competitors will choose not to raise price, causing the firm to lose many customers 02 In the long run, a monopolistically competitive firm will Earn normal profits b. Earn supernormal p rofits c. Face a vertical demand curve d. Face a horizontal demand curve ROSS & RACHEL is a small company in New York City that seas falafels, a traditional Middle Eastern food. it competes with many other sellers which differentiate themselves through flauqurs and services. State and explain whether ROSS & RACHEL can set their own pricing.