16. Regarding the behavior of firms in an oligopoly, which of the following statement(s) are correct?
(A) Oligopolistic firms may engage in tacit collusion, where they implicitly agree to maintain higher prices without explicit communication.
(B) When firms in an oligopoly collude, they act as a monopoly and maximize total industry profits.
(C) The kinked-demand curve model suggests that oligopolistic firms face a demand curve that is more elastic for price increases than for price decreases.
(D) In a Cournot duopoly, each firm determines its profit-maximizing output level assuming the output of the other firm is fixed.