Author Question: If, holding the strategies of all other firms constant, no firm can obtain a higher profit by ... (Read 67 times)

sjones · **on:** Jul 1, 2018

If, holding the strategies of all other firms constant, no firm can obtain a higher profit by choosing a different strategy, then

A) the firms are using the Cournot model.
B) the firms' strategies are a Nash equilibrium.
C) the firms must have formed a cartel.
D) the firms are using the Bertrand model.

Question 2

All of the following are considered process innovation EXCEPT

A) neutral technical progress.
B) labor saving technical progress.
C) organizational innovation.
D) nonneutral technical progress.