If Two Duopolists Arrive at the Nash Equilibrium Output Level,the

question 130

Multiple Choice

If two duopolists arrive at the Nash equilibrium output level,the total quantity of the good on the market will be ________ the total quantity on the market if the market were perfectly competitive and ________ the total quantity on the market if the market were controlled by a monopoly.

• A) less than; less than
• B) less than; greater than
• C) greater than; greater than
• D) greater than; less than
• E) greater than; equal to

Comprehend the fiduciary duties of agents, including duties of loyalty, obedience, and avoidance of secret profits.

Know the effects and implications of agents' actions on behalf of principals, including the continuity of principals' obligations.

Recognize the legal capacity required for appointing agents and the effect of an agent's incapacity on the agency relationship.

Understand the specifics of agency termination, including automatic termination due to bankruptcy or the principal's death.