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Author Question: Firms A and B are identical, produce identical products, and are the only firms in a market. Firm ... (Read 167 times)

wenmo

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on: Jul 1, 2018
Firms A and B are identical, produce identical products, and are the only firms in a market. Firm A's output is higher than Firm B's. This means that Firm B is the
 
  A) Cartel leader.
  B) Stackelberg leader.
  C) Stackelberg follower.
  D) Cournot leader.

Question 2

Monopolization of the labor market restricts output because
 
  A) fewer workers offer their services.
  B) the higher wage raises the firm's marginal cost.
  C) monopolized workers are less productive.
  D) a monopolized labor market means there is also a monopolized output market.
Microeconomics ¦ Perloff ¦ 8th Edition
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Jmfn03

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

C

Answer to Question 2

B


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