In the infinitely-repeated Bertrand model:
A. firms play the Bertrand pricing game over and over, with no definite end.
B. firms play the Bertrand pricing game one time.
C. firms play the Bertrand pricing game several times, with a clearly defined endpoint.
D. firms play the Bertrand pricing game at least two times, but no more than four.
A. firms play the Bertrand pricing game over and over, with no definite end.
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In the above figure, if D2 is the original demand curve and the population falls, which price and quantity might result?
A) point a, with price P2 and quantity Q2 B) point b, with price P1 and quantity Q1 C) point c, with price P3 and quantity Q3 D) point d, with price P1 and quantity Q3
The currency premium in foreign-exchange markets
A) helps to offset anticipated declines in exchange rates. B) helps to offset anticipated increases in exchange rates. C) indicates investors' collective preference for financial instruments denominated in one currency relative to those denominated in another. D) rises as domestic interest rates fall.
What is the business cycle and why does it occur?
What will be an ideal response?
The cost of running an electrical utility includes costs for fuel, labor, and capital. In addition, there are sometimes costs associated with pollution from the utility, such an increased health care costs for people living near the utility. To an economist, the costs associated with the pollution resulting from additional electricity are:
A. marginal social costs. B. marginal private costs. C. the sum of marginal social costs and marginal private costs. D. the difference between marginal social costs and marginal private costs.