As the number of firms increases in a market, the differences between the Cournot, Stackelberg, and price-taking market structures
A) decreases.
B) increases.
C) remains the same.
D) cannot be determined.
A
You might also like to view...
Robots are used to produce automobiles. The robots would be considered to be ______.
a. causation b. an output c. a resource d. a tax deduction
Injections to the circular flow model include saving, taxes, exports, and investment.
Answer the following statement true (T) or false (F)
If two nominal exchange rates are given as 4 shekel/dollar and 0.711 dinar/dollar, so 1 dollar can buy either 4 shekels or 0.711 dinars, then each Jordanian dinar is worth ________ Israeli shekels, and each shekel is worth ________ dinars.
A. 0.51; 1.96 B. 0.178; 5.623 C. 5.623; 0.178 D. 1.96; 0.51
The major shortcoming of a barter economy is
A) the requirement of a double coincidence of wants. B) the requirement of specialization and exchange. C) that goods and services are not traded. D) that money loses value from inflation.