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Author Question: Suppose Cournot duopolists firms face the same market demand curve, but have differing costs. At the ... (Read 91 times)

LCritchfi

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on: Jul 1, 2018
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.
Microeconomics ¦ Perloff ¦ 8th Edition
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nikmaaacs

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

A


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LCritchfi

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Reply #2 on: Jul 1, 2018
Correct answers!


nikmaaacs

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Reply #3 on: Jul 1, 2018
Great! Please up vote :D


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