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Author Question: Augustin Cournot showed (in 1838) that each of a small number of quantity-setting firms in a ... (Read 42 times)

ericka1

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on: Jul 1, 2018
Augustin Cournot showed (in 1838) that each of a small number of quantity-setting firms in a homogeneous-product market will sense the influence of the individual firm's own output on market price, and will offer less than the competitive quantity
 
  as a result. Indicate whether the statement is true or false

Question 2

A basic principle in management is that where there is risk, there is ________.
 
  a. Opportunity
  b. Reliability
  c. Decision making
  d. Extenuating circumstances


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chem1s3

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

T When there are only a few firms, each firm will supply a small enough quantity to the market that it will be able to see how its own quantity will affect market price.

Answer to Question 2

A


ericka1

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

bulacsom

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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