Suppose that Jay-Z and Beyonce are duopolists in the music industry. In January, they agree to work 47. ether as a monopolist, charging the monopoly price for their music and producing the monopoly quantity of songs. By February, each singer is considering breaking the agreement. What would you expect to happen next?
A. Jay-Z and Beyonce will determine that it is in each singer's best self interest to maintain the agreement
B. Jay-Z and Beyonce will each break the agreement. The new equilibrium quantity of songs will increase, and the new equilibrium price will decrease.
C. Jay-Z and Beyonce will each break the agreement. The new equilibrium quantity of songs will decrease, and the new equilibrium price will increase.
D. Jay-Z and Beyonce will cach break the agreement. The new equilibrium quantity of songs will increase, and the new equilibrium price also will increase.
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