If a Cournot duopolist announced that it will double its output
A) it becomes the leader
B) the other firm does not view the announcement as credible
C) the other firm will shut down
D) the other firm will double output also
B) the other firm does not view the announcement as credible
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A chain-weighted index
A) calculates changes in prices by using an average of base years from neighboring years to obtain a more accurate measure of real GDP growth. B) is used to understate the rate of inflation. C) is a useful tool for determining which fence to purchase. D) uses neighboring years' data to calculate changes in nominal GDP.
Which of the following displays these two characteristics: nonrivalry and excludability?
A) public goods B) private goods C) quasi-public goods D) common resources
Explain how a monopolist can increase profits by price discriminating. What are the conditions necessary for price discrimination?
What will be an ideal response?
Refer to the table shown. The average product when eight workers are employed is:Number of workersTotal output142103184285356417458489501049
A. 3. B. 4. C. 5. D. 6.