Suppose two Cournot duopolist firms operate at zero marginal cost. The market demand is p = a - bQ. Each firm will produce
A) a/b.
B) a/2b.
C) a/3b.
D) a/4b.
C
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The effects of the negative supply shocks of 1973, 1979 and 2007 were different due to the ________
A) role played by rational expectations in the 1979 event B) different sources of the supply shocks C) credibility of the monetary authorities D) different individuals who led the Federal Reserve System
For a decade after the Land Ordinance of 1785, pioneering in parts of the Northwest Territory was restricted by all of the following except
a. Indian troubles b. French interference c. English interference d. high prices of land
Which of the following market bundles will give the lowest utility?
a. 2 movies and 2 games b. 2 movies and 3 games c. 2 movies and 4 games d. 2 movies and 5 games
Recall the Application about the free-agent market for professional baseball pitchers to answer the following question(s).Recall the Application. Why is there adverse selection in the baseball pitcher free-agent market?
What will be an ideal response?