« previous next »

Author Question: In the Cournot model, each firm assumes that its rival will ____ its output when the firm adjusts ... (Read 147 times)

DyllonKazuo

  • Hero Member
  • *****
  • Posts: 565
on: Jul 1, 2018
In the Cournot model, each firm assumes that its rival will ____ its output when the firm adjusts its own output. Which word best completes the sentence?
 a. increase
  b. not change
  c. decrease
  d. adjust

Question 2

In the price-leadership model,
 a. firms believe that price increases result in a very elastic demand, while price decreases result in an inelastic demand for their product.
  b. each firm acts as a price taker.
  c. one dominant firm takes the reactions of all other firms into account in its output and pricing decisions.
  d. firms coordinate their decisions to act as multiplant monopolies.


coyin

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

HIV testing reach is still limited. An estimated 40% of people with HIV (more than 14 million) remain undiagnosed and do not know their infection status.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

3D DNA Model 3D DNA Model
Model for control of cytoplasmic polyadenylation and translation initiation Model for control of cytoplasmic polyadenylation and translation initiation
A Mental Model of the Craftsman Experiment A Mental Model of the Craftsman Experiment
Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ... Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ...
Management Information Systems: Managing the Digital Firm, 15th Edition Management Information Systems: Managing the Digital Firm, 15th Edition
Holley’s two-dimensional cloverleaf model of transfer RNA Holley’s two-dimensional cloverleaf model of transfer RNA
Video: Mitochondrial Structure & ETC Protein Complexes (Protein Complexes and Electron Transport)

For a complete list of videos, visit our video library