Without Externalities, the Noncooperative Nash Equilibrium for a Given Market

question 23

Multiple Choice

Without externalities, the noncooperative Nash equilibrium for a given market can be expected to approximate:

• A)the sharing of monopoly profit across firms.
• B)the efficient, competitive equilibrium.
• C)a distorted distribution of monopoly profit across firms.
• D)competitive equilibrium distorted by large, positive pure economic profit.
• E)none of the above.

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