In the Cournot Model,the Output That a Firm Chooses to Produce

question 67

Multiple Choice

In the Cournot model,the output that a firm chooses to produce increases as

• A) the total output of other firms increases.
• B) the number of firms in the market increases.
• C) the number of firms in the market decreases.
• D) its marginal cost increases.

---

Definitions:

Garden Gnomes

Decorative statues often placed in gardens, depicting mythological creatures known as gnomes.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded, typically downward sloping, indicating that demand decreases as price increases.

Plaster

A building material made of lime or gypsum, water, and sand, used for coating walls and ceilings.

Labor

The deployment of human manpower, both in physical form and intellectual capacity, for generating goods and services.