The game in Scenario 13.14
A) is Stackelberg if both players move at the same time; Cournot if one player moves first.
B) is Cournot if both players move at the same time; Stackelberg if one player moves first.
C) Stackelberg no matter what the timing of moves.
D) Cournot no matter what the timing of moves.
E) is neither Stackelberg nor Cournot.
B
You might also like to view...
More than 70 percent of national income can be attributed to:
a. compensation of employees. b. rental income. c. corporate profit. d. net interest. e. proprietors' income.
When economists say wages are "sticky," they mean that they:
A. are slow to adjust to changes in the economy, and can cause unemployment. B. stick to current market trends, and adjust to equilibrium when changes in the economy occur. C. get stuck behind current market trends, and follow a typical two-week lag with changes in the economy. D. lead market trends, and other variables will stick to the wage rate and follow it closely.
Suppose demand increases and supply increases. Which of the following will happen?
a. Equilibrium price will rise, fall, or stay the same while equilibrium quantity will decrease. b. Equilibrium price will rise, fall, or stay the same while equilibrium quantity will increase. c. Equilibrium quantity will rise, fall, or stay the same and equilibrium price will increase. d. Equilibrium quantity will rise, fall, or stay the same while equilibrium price will decrease. e. The change in equilibrium price and quantity cannot be determined.
A futures contract is a forward contract with some important differences. Explain.
What will be an ideal response?