This topic contains a solution. Click here to go to the answer

Author Question: Under conditions of first-degree price discrimination A) production will equal that which would ... (Read 44 times)

Coya19@aol.com

  • Hero Member
  • *****
  • Posts: 601
Under conditions of first-degree price discrimination
 
  A) production will equal that which would exist under perfect competition.
  B) production will exceed that which would prevail under perfect competition.
  C) prices will be lower than under perfect competition.
  D) production will always be lower than under perfect competition.

Question 2

If two firms behave as Cournot duopolists, the level of social welfare is lower than if the same firms act as a cartel.
 
  Indicate whether the statement is true or false



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

onowka

  • Sr. Member
  • ****
  • Posts: 353
Answer to Question 1

A

Answer to Question 2

False. The Cournot duopolists produce more at a lower price than a cartel. Thus, social welfare is lower with a cartel.




Coya19@aol.com

  • Member
  • Posts: 601
Reply 2 on: Jul 1, 2018
Gracias!


upturnedfurball

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

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?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

For a complete list of videos, visit our video library