Relative to the Nash equilibrium in the Cournot model, the Nash ...

[fahad]

Relative to the Nash equilibrium in the Cournot model, the Nash equilibrium in the Bertrand model with homogeneous products
 
  A) results in the same output but a higher price.
  B) results in the same output but a lower price.
  C) results in a larger output at a lower price.
  D) results in a smaller output at a higher price.
  E) any of the above may result.

Question 2

Refer to Figure 7.2. A movement from A to B in the figure represents
 
  A) economies of scale.
  B) diseconomies of scale.
  C) learning.
  D) economies of scope.
  E) diseconomies of scope.

[vickyvicksss]

Answer to Question 1

C

Answer to Question 2

A

[fahad]

Gracias!

[cpetit11]

TYSM