The Nash Equilibrium in an Oligopolistic Market Is Generally ________

question 151

Multiple Choice

The Nash equilibrium in an oligopolistic market is generally ________ for society than the outcome under collusion because the price is ________ marginal cost.

• A) better; closer to
• B) better; further above
• C) worse; closer to
• D) worse; further above
• E) worse; equal to

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Definitions:

Uncollectible

Accounts receivable that cannot be recovered or are very unlikely to be paid by debtors.

Income Statement Approach

An analytic method focusing on revenues and expenses to determine the net income of a business within a specific period.

Net Credit Sales

The total revenue from sales made on credit, minus any returns or allowances.

Allowance for Doubtful Accounts

A contra-asset account that represents the estimated portion of accounts receivable that may not be collectible.