The Cournot equilibrium can be found by treating ________ as a pair of simultaneous equations and by finding the combination of Q1 and Q2 that satisfy both equations
A) the reaction curves for firms 1 and 2
B) the market supply curve and the market demand curve
C) the contract curve and the market demand curve
D) the contract curve and the market supply curve
E) the firm's supply curve and the firm's demand curve
A
You might also like to view...
Many rural bank failures in the 1980s can be attributed to
a. the high farm prices of the 1970s that continued to rise in the 1980s and 1990s b. farmers' reluctance to buy more machinery and expand production due to the high farm prices of the 1970s c. the collapse of farm prices and land values in the early 1980s d. numerous loans made to oil-export economies such as Mexico and Venezuela e. the lack of rural loan portfolios being involved in farm ventures
Which of the following is true about the equilibrium market wage? A. All workers are satisfied with the wage.
A. All workers are satisfied with the wage. B. There is no unemployment in the market at the equilibrium wage. C. Competitive employers have market power with respect to the equilibrium wage. D. All employers are satisfied with the wage.
In a command economy, the __________ either makes most economic decisions itself or at least strongly influences how the decisions are made.
A. government B. market C. firm D. business sector
Figure 3.6 illustrates a set of supply and demand curves for hamburgers. An increase in supply and an increase in quantity demanded are represented by a movement from:
A. point a to point b. B. point a to point c. C. point d to point b. D. point c to point d.