A Model in Which One Firm Chooses Its Quantity First

question 21

Multiple Choice

A model in which one firm chooses its quantity first, and then the other firm, knowing what firm 1 has done, makes its choice is called the

• A) Stackelberg model
• B) Cournot model
• C) Nash model

---

Definitions:

Cost Effective Logistics

The strategic implementation of logistics and supply chain operations to minimize costs while maximizing efficiency and effectiveness.

Hard Facts

Objective, verifiable pieces of information that are indisputable and backed by evidence.

Linear Programming

A mathematical method for determining a way to achieve the best outcome, such as maximum profit or minimum cost, in a given mathematical model.

ISO Certification

A standardization seal awarded by the International Organization for Standardization, indicating that a company meets high criteria of quality and efficiency.