Which of the Following Is True

question 22

Multiple Choice

Which of the following is true?

• A) In Bertrand oligopoly each firm believes that its rivals will hold their output constant if it changes its output.
• B) In Cournot oligopoly firms produce an identical product at a constant marginal cost and engage in price competition.
• C) In oligopoly a change in marginal cost never has an effect on output or price.
• D) None of the answers is correct.

---

Definitions:

Lareau

Refers to Annette Lareau, an American sociologist known for her work on family life, social class, and education, particularly regarding unequal childhoods.

Anti-Racist

Actively opposing racism and promoting racial tolerance and equality through beliefs, actions, and policies.

Conflict Theory

A sociological perspective that focuses on the societal tensions, power dynamics, and inequalities that stem from competing interests, resources, and power.

Functionalist Theory

A sociological perspective emphasizing that all parts of society are interconnected, functioning together to maintain stability and social order.