In a 2-firm oligopoly, if you can choose to either be a simultaneous move Cournot competitor or a Stackelberg leader, you will always choose to be a Stackelberg leader.
Answer the following statement true (T) or false (F)
True
Rationale: You gain a first mover advantage by being a Stackelberg leader.
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Which of the following may not be indicated by low long-term interest rates?
(A) That the economy is expected to contract in coming years. (B) That consumers want to borrow money to invest. (C) The future health of the economy. (D) That businesses do not want to borrow money to invest.
A virtuous cycle occurs
A) when a firm can attract enough buyers initially to increase a product's usefulness to attract even more buyers. B) when lobbyists petition members of Congress to grant a public franchise; the lobbyist then raise money for those Congress members who granted the franchise. C) when monopoly profits are used to create new products for additional monopoly profits. D) when a firm's sales volume reaches a level where the firm can take advantage of economies of scale; thereby reducing the price of the product to further boost its sales.
In Figure 30.2, the equilibrium wage rate is
A. $20 per hour. B. $12 per hour. C. $24 per hour. D. $16 per hour.
Refer to the graphs below. Which one shows demand with a price-elasticity coefficient equal to zero?
A. Graph A
B. Graph B
C. Graph C
D. Graph D