When MR = MC
A) marginal profit is maximized.
B) total profit is maximized.
C) marginal profit is positive.
D) total profit is zero.
B
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Refer to Cournot Problem. Total industry output will be
Consider a Cournot oligopoly with two identical firms. These firms each have constant marginal costs of $10. The market for these firms’ product has demand Q = 100 - P. a. 30 units. b. 45 units. c. 60 units. d. 90 units.
Section 2 of the Sherman Act prohibits ________.
A) an attempt of one firm to become a monopoly through the use of unreasonably exclusionary conduct B) market division C) price fixing D) monopolies
Return to the version of the game between the fishermen in which they fish independently. If the marginal cost for just fisherman A went up, what would be the likely effect on the Nash equilibrium?
a. A would catch more fish, and B would catch fewer. b. A would catch fewer fish, and B would catch more. c. A would catch more fish, but B's catch would not change. d. A would catch fewer fish, but B's catch would not change.
Labor productivity growth in the United States during the 1973-1995 period could be explained by a ____ slowdown
a. labor force b. capital formation c. technological d. population growth