Price and quantity in Bertrand and Cournot models
A) are the same.
B) are different.
C) might be the same depending on whether the products are identical or differentiated.
D) are the same as in a duopoly.
B
You might also like to view...
Usharani consumes 35 apples a week and 14 loaves of bread. Apples cost $1 each and bread costs $2 per loaf. Usharani is maximizing his utility and finds that the marginal utility from his 35th apple
A) equals his marginal utility from his 14th loaf of bread. B) is twice his marginal utility from his 14th loaf of bread. C) is half his marginal utility from his 14th loaf of bread. D) is such that his total utility from apples equals his total utility from bread.
Which has a greater impact on expanding aggregate demand?
An alternative to using simultaneous equation models with panel data is:
A. to use OLS estimates after first differencing the data. B. to use fixed effects transformation on the equations and then apply 2SLS. C. to convert the equations into reduced form and then apply feasible generalized least squares. D. to convert the equations into reduced form and then apply OLS.
Lower real income ________ the demand for money and a lower price level ________ the demand for money.
A. decreases; decreases B. increases; decreases C. increases; increases D. increases; does not change