"Tom and Jack Are the Only Two Local Gas Stations

question 121

Multiple Choice

"Tom and Jack are the only two local gas stations.Although they have different constant marginal costs, they both survive continued competition." Tom and Jack do not constitute a:

• A)Sweezy oligopoly.
• B)Cournot oligopoly.
• C)Stackelberg oligopoly.
• D)Bertrand oligopoly.

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