Firms 1 and 2 compete in a Cournot duopoly. If firm 1 adopts a strategy that raises firm 2's marginal cost:
A. firm 2 will increase its output.
B. firm 1 will enjoy higher profits.
C. firm 1 will lose market share.
D. All of the statements associated with this question are correct.
Answer: B
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In a Lorenz diagram for income, the line of equality shows
A) the most equitable income distribution. B) how unequally incomes are distributed. C) how much redistribution occurs. D) the income distribution if everyone received the same income.
Restructuring is another word for deregulation
Indicate whether the statement is true or false
In the consumption of public goods
A) consumers can be excluded. B) free riders can be excluded. C) consumers cannot be excluded. D) government is excluded.
The United States ran a trade deficit in 40 of the 45 years in which period?
a. 1800–1845 b. 1831–1875 c. 1845–1899 d. 1856–1900