Which of the Following Is True

question 20

Multiple Choice

Which of the following is true?

• A) In Bertrand oligopoly each firm reacts optimally to price changes.
• B) In Cournot oligopoly firms engage in quantity competition.
• C) In Sweezy oligopoly a change in marginal cost may not have an effect on output or price.
• D) All of the statements associated with this question are correct.

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Definitions:

Kyphosis

An exaggerated, forward rounding of the back, often seen in the upper back or thoracic spine, which can result from osteoporosis, spinal fractures, or other conditions.

Osteoporosis

Reduction in quantity of bone, resulting in porous bone.

Cervical Vertebra

Vertebrae located in the neck portion of the spine comprising the top part of the spinal column.

Thoracic Vertebrae

The set of twelve vertebrae located between the cervical vertebrae and the lumbar vertebrae that form the midsection of the vertebral column.