In a Bertrand Model with Identical Firms and a Non-Differentiated

question 23

Multiple Choice

In a Bertrand model with identical firms and a non-differentiated product,price will increase in response to

• A) an increase in the number of firms.
• B) a decrease in the number of firms.
• C) an increase in marginal cost.
• D) a decrease in marginal cost.

---

Definitions:

Principle Of Continuity

A concept in psychology suggesting that experiences are linked over time, creating a coherent sense of self.

Relative Motion

The movement of an object in relation to another, highlighting that motion is observed differently depending on the observer's position.

Depth Cue

A visual or auditory signal that provides information about the distance or three-dimensional characteristics of an object or scene.

Visual Cliff

An experimental apparatus used to study depth perception and fear of heights in infants and young animals.