Suppose in a Cournot Duopoly That Two Firms,Firm 1 and Firm

question 13

Multiple Choice

Suppose in a Cournot duopoly that two firms,Firm 1 and Firm 2,face market demand and both have marginal cost, The equilibrium industry profits in this market will be

• A) 150
• B) 200
• C) 250
• D) 300

---

Definitions:

Hierarchy of Effects

A model describing the stages a consumer passes through in the process from unawareness of a brand to purchasing it, including awareness, interest, desire, and action.

Interest Stage

A phase in the consumer decision process where individuals develop an interest in a product or service after becoming aware of it.

Awareness Stage

The initial phase in the buying process where potential customers first become aware of a product or service.

Consumer Development Stage

A phase in the consumer lifecycle where individuals or groups evolve in their purchasing patterns and preferences.