Identify the Truthfulness of the Following Statements

question 16

Multiple Choice

Identify the truthfulness of the following statements.
I. Cournot competitors behave less aggressively than Bertrand competitors because a Cournot firm cannot expect to "steal" customers from a rival whereas a Bertrand firm can.
II. Two firms are enough to replicate perfectly competitive outcomes in a Bertrand market, whereas a Cournot market only approaches perfectly competitive outcomes when the number of competitors becomes large.

• A) Both I and II are true.
• B) Both I and II are false.
• C) I is true; II is false.
• D) I is false; II is true.

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Definitions:

Host Culture

The dominant culture or social environment in which an immigrant, foreign visitor, or minority group is immersed and must adapt to.

Immigrants' Cultures

The traditions, practices, languages, and values brought by immigrants to a new country, contributing to the cultural mosaic of the host society.

Ethnic Enclave

An area, often within a city, with a high concentration of a particular ethnic group, which maintains its distinct cultural identity.

Sociological Terms

Specialized vocabulary used to describe concepts, theories, and phenomena studied within the field of sociology.