Author Question: In the simplest version of the Cournot model, we assume A) the firms set price independently and ... (Read 49 times)

WWatsford · **on:** Jul 1, 2018

In the simplest version of the Cournot model, we assume

A) the firms set price independently and simultaneously.
B) the firms set price independently and sequentially.
C) that the firms have identical costs.
D) the firms are in a Nash equilibrium.

Question 2

What is one reason patents are required?

A) Information concerning innovation is private and secure.
B) Human nature is corrupt.
C) Information concerning innovation is generally not private and secure.
D) The patent only makes things better in the short-run.