Bertrand Competition Occurs When Oligopolists Compete with Regard to

question 81

Multiple Choice

Bertrand competition occurs when oligopolists compete with regard to

• A)prices.
• B)quantities.
• C)both prices and quantities.
• D)neither prices nor quantities.
• E)product differentiation.

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Definitions:

Check

A special draft that orders a bank (the drawee) to pay a specified sum of money to the payee from the drawer’s account.

Blank Endorsement

A payee’s or last endorsee’s signature on a negotiable instrument.

Payee's Signature

The signature of the individual or entity entitled to receive payment on a negotiable instrument or document.

Last Endorsee

The most recent party to whom a negotiable instrument, such as a check or promissory note, has been endorsed.