When a new firm begins production in the ________ model, it assumes its demand curve is the market demand less the amount the other firm is selling.
A. price leadership
B. cartel
C. Cournot
D. collusion
Answer: C
You might also like to view...
When governments specify the maximum amount of a good that may be imported in a given period of time, they are establishing a
A) tariff. B) quota. C) dynamic tariff. D) tax. E) dumping limit.
The depression of the 1930s was
(a) the first depression in the nation's history. (b) not the first but the most serious depression in the nation's history. (c) not the first depression in the nation's history and no more serious than some of the others. (d) not as serious as the depressions of the 1840s and 1870s.
When the economy is initially at full employment:
a. expansionary monetary policy will tend to increase the price level in the short run and the long run. b. expansionary monetary policy will tend to increase the price level in the short run but not the long run. c. expansionary monetary policy will tend to increase the price level in the long run but not the short runq d. expansionary monetary policy will not tend to increase the price level in the short run or the long run.
Christoph is a landlord in an area where rent controls have set the maximum price he can charge below the competitive equilibrium price. How can a landlord like Christoph be a “winner” in this situation?
a. by expanding his business and buying more properties b. by spending more to maintain his properties in perfect condition c. by breaking the law and finding ways to charge his tenants more d. by increasing demand by charging his tenants even less than the price ceiling