In the Cournot Model, If One Firm Increases Its Output

question 4

Multiple Choice

In the Cournot model, if one firm increases its output

• A)the market will not clear because now there is a surplus.
• B)the market price drops, reducing the revenues received by the other firms.
• C)the others will kick it out of the oligopoly.
• D)the other firms are unaffected.

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Definitions:

Axis I

A classification found within the DSM-IV (Diagnostic and Statistical Manual of Mental Disorders, 4th Edition) that's used for reporting all the major psychological disorders, except personality disorders and developmental disorders.

Axis II

A categorization used in earlier versions of the Diagnostic and Statistical Manual of Mental Disorders (DSM) for personality disorders and intellectual disabilities.

Treatment Difficulty

The level of challenge associated with effectively managing or resolving a medical or psychological condition.

DSM-IV

The fourth edition of the Diagnostic and Statistical Manual of Mental Disorders, a manual published by the American Psychiatric Association that outlines mental health conditions.