2. Consider a market in which a monopolist would charge at price PM, a pair of Cournot duopolists would charge at price pp, and a competitive firm would charge at price PCE. Which of the following is true? PM > PCE PCE > PM (c) PCE > PD > PM (d) PCE > PM > PD (e) PM> PD > PCE (f) PM > PCE > PD (g) None of the above Answer: 2e. (a) PD (b) PD

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