Author Question: Suppose Cournot duopolists firms face the same market demand curve, but have differing costs. At the ... (Read 61 times)

LCritchfi

  • Hero Member
  • *****
  • Posts: 519
Suppose Cournot duopolists firms face the same market demand curve, but have differing costs. At the Nash-Cournot equilibrium, the firm with the higher cost will
 
  A) have a lower price for its product than its competitor.
  B) have a smaller profit than its competitor.
  C) have a higher price for its product than its competitor.
  D) have a higher profit than its competitor.

Question 2

The labor market demand curve
 
  A) is the summation of the labor demand curve for each output market.
  B) is identical to the average firm labor demand curve.
  C) is the sum of the wages paid for each unit of labor of the individual firms labor demands.
  D) is always upward sloping for competitive labor markets.


nikmaaacs

  • Sr. Member
  • ****
  • Posts: 335
Answer to Question 1

B

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

For a complete list of videos, visit our video library