The Demand Curve Shown Below Has Four Points Depicting Possible

question 19

Multiple Choice

The demand curve shown below has four points depicting possible total market oligopoly outcomes of quantity and price. For the given demand and price coordinates labeled A-D, pick the matching oligopoly models that lead to these comparative outcomes.

• A)A = Bertrand: B = Cournot: C = Stackelberg: D = Shared Monopoly
• B)A = Cournot: B = Bertrand: C = Stackelberg: D = Shared Monopoly
• C)A = Shared Monopoly: B = Cournot: C = Bertrand: D = Stackelberg
• D)A = Shared Monopoly: B = Cournot: C = Stackelberg: D = Bertrand

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Tortfeasor

One who commits a tort.

Tort

A civil wrong that causes someone else to suffer loss or harm, resulting in legal liability for the person who commits the act.

Compensation

Payment or reward given for services rendered or harm suffered.

Tort Action

A legal proceeding arising from a wrongful act, leading to civil liability, rather than stemming from a contract dispute or criminal case.