Examlex
An early approach to behaviorism that attempted to explain behavior in terms of how each stimulus triggers a response was known as
Stackelberg Leader
A firm in a duopoly that moves first to set its output level, thereby determining the market's price and influencing the subsequent behavior of a follower firm.
Cournot Oligopolist
A firm competing in a market where a few firms control the majority of the market share and where each firm takes into account its rivals' production quantities when determining its own quantity.
Cournot Equilibrium
A concept in economic theory where firms reach a state in which each firm chooses the optimal output level assuming the output levels of the other firms.
Duopoly
A market structure characterized by two producers/sellers in competition with each other.
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