My thought is that it will get indexed but after a while it will get dropped because of duplicate content.
It can still get indexed but chances are it will enter supplemental results of have low rankings unless you have a lot of inbound links to that particular page. It may rank for keywords that are not competitive and have few results without any links as well.
Yes it will but it will be in the 20th-30th result page of google search. It could also get high ranking if you can optimize and outsource your competitor
It'll be indexed - for a little bit. Once the search engines realize that the content was copied from elsewhere, they'll de-list the page and all benefits gained from the duplicated page (including weight from backlinks) will be lost since the copied page will no longer exist as far as they're concerned.