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Author Question: When all players are choosing their best strategies on the assumption that their opponents are doing ... (Read 16 times)

cool

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on: Jun 30, 2018
When all players are choosing their best strategies on the assumption that their opponents are doing likewise, the outcome is called:
 a. a Stackelberg equilibrium.
  b. a Nash equilibrium.
  c. a Cournot equilibrium.
  d. a Bertrand equilibrium.

Question 2

Monopolistic competition is characterized by:
 a. homogeneous products.
 b. barriers to entry.
 c. firms earning economic profits in the long run.
  d. differentiated products.


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bdobbins

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

d


cool

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  • Posts: 570
Reply 2 on: Jun 30, 2018
Excellent

Liamb2179

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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