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Oligopoly and economic welfare in long run

In an oligopoly, as opposite to monopolistic or pure competition, industry output within the long run is probable to be: (1) lower along with reduced prices. (2) about similar but with higher prices. (3) lower and with higher prices. (4) higher and along with higher prices. (5) dictated by the government.

Please guys help to solve this problem of Economics with some explanation.

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