Figure 12.2.1 -In Comparing the Cournot Equilibrium with the Competitive Equilibrium

question 69

Multiple Choice

Figure 12.2.1
-In comparing the Cournot equilibrium with the competitive equilibrium,

• A) both profit and output level are higher in Cournot.
• B) both profit and output level are higher in the competitive equilibrium.
• C) profit is higher, and output level is lower in the competitive equilibrium.
• D) profit is higher, and output level is lower in Cournot.

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Definitions:

Independent Variable

In research, a variable that is manipulated or changed by the researcher to determine its effect on another variable, called the dependent variable.

Control Group

In experimental research, a group of subjects that does not receive the experimental treatment and is used as a benchmark to measure the effect of the treatment on the experimental group.

Human Participants

Individuals who take part in research studies or experiments, contributing data through their actions, behaviors, or biological samples.

Debrief Participants

A process used in research studies where participants are informed about the study's purpose, procedures, and outcomes after their participation is complete.