In the Cournot Model the Final Level of Output Is

question 4

Multiple Choice

In the Cournot model the final level of output is ________ the output that would be produced if the industry was a monopoly, and is ________ the output that would be produced if the industry was perfectly competitive.

• A) greater than; less than
• B) less than; greater than
• C) equal to; less than
• D) greater than; equal to

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Definitions:

Net Present Value

The difference between the present value of cash inflows and the present value of cash outflows over a period of time.