An Oligopoly Model in Which Sellers Compete on Prices Rather

question 112

Multiple Choice

An oligopoly model in which sellers compete on prices rather than quantities is called a ________ model.

• A) Bertrand
• B) Cournot
• C) Pigouvian
• D) Pareto

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Definitions:

Encourage

To inspire with courage, spirit, or confidence; to stimulate by assistance or approval.

Supportive Feedback

Communication feedback whose goal is to encourage desirable behavior.

Underappreciated

Not fully recognized or valued for its importance or contribution.

Financial Quarters

Divisions of a fiscal year into four parts, used by businesses and governments for financial reporting and planning purposes.