Price and Quantity in Bertrand and Cournot Models

question 80

Multiple Choice

Price and quantity in Bertrand and Cournot models

• A)are the same.
• B)are different.
• C)might be the same depending on whether the products are identical or differentiated.
• D)are the same as in a duopoly.

---

Definitions:

Payment

The act of giving money or other compensation to settle a transaction or obligation.

Fund

A collection of money set aside for a specific purpose or invested to generate income.

Exist

To have actual being or reality.

Value

The importance, worth, or usefulness of something.