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.

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Definitions:

Researched Vacation Spots

Destinations identified and evaluated through research for potential holiday or travel experiences.

Finding An Apartment

The process of searching for and securing a residential unit in a building or complex to live in.

Neighborhood

A geographical area, especially within a city or town, that forms a community of people living close to each other.

Patiently Waiting

The act of remaining calm and without complaint while anticipating or expecting something to happen.