A New Firm Successfully Enters a Three-Firm Cournot Oligopoly Without

question 46

Multiple Choice

A new firm successfully enters a three-firm Cournot oligopoly without changing the demand and cost structures.The new price becomes:

• A) 75 percent of the original price.
• B) 50 percent of the original price.
• C) the same as the original price.
• D) unknown for lack of other information.

---

Definitions:

Local Idioms

Expressions or phrases that are specific to a particular language or region and may not be understood outside of that context.

Computerized Translation Tools

Software or online services that automatically translate text from one language to another.

Automated Translation

The use of software to convert text or speech from one language to another without human intervention.

Idiomatic Phrases

Phrases that mean more than the sum of their literal parts; such phrases can be difficult for nonnative speakers to understand.