In which oligopoly model(s) do firms earn zero profit?
A) Cournot
B) Bertrand
C) Stackelberg
D) Oligopoly firms always earn positive economic profits.
B
Economics
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At an output level of 100, a monopolist faces MC = 15 and MR = 17. At output level q = 101, the monopolist's MC = 16 and MR = 15. To maximize profits, the firm
A) should produce 100 units. B) should produce 101 units. C) cannot maximize profits. D) is not a monopoly.
Economics
A price cut will decrease the total revenue a firm receives if the demand for its product is: a. elastic
b. inelastic. c. unit elastic. d. unit inelastic.
Economics