Firm a Has a Higher Marginal Cost Than Firm B

question 63

Multiple Choice

Firm A has a higher marginal cost than firm B. They compete in a homogeneous product Cournot duopoly. Which of the following results will NOT occur?

• A) Q_A < Q_B
• B) Profit_A < Profit_B
• C) Revenue of firm A < Revenue of firm B
• D) Price_A < Price_B

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Definitions:

Writs of Certiorari

Orders by a higher court to a lower court to send up the records of a case for review, often used by the U.S. Supreme Court to select specific cases for consideration.

Equal Protection of the Law

A constitutional principle that requires states to treat all citizens equally under the law, prohibiting discrimination on the basis of race, religion, gender, or national origin.

Brown v. Board of Education

A landmark Supreme Court decision in 1954 that declared state laws establishing separate public schools for black and white students to be unconstitutional, challenging racial segregation.

Pavan v. Smith

A significant U.S. Supreme Court case in 2017 that ruled same-sex couples must be treated equally with respect to the listing of parentage on birth certificates.