Price and quantity in Bertrand and Cournot models
A) are the same.
B) are different.
C) might be the same depending on whether the products are identical or differentiated.
D) are the same as in a duopoly.
B
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Refer to Table 15-2. Consider the hypothetical information in the table above for potential real GDP, real GDP, and the price level in 2016 and in 2017 if the Federal Reserve does not use monetary policy
If the Fed wants to keep real GDP at its potential level in 2017, it should A) increase income taxes. B) sell Treasury securities. C) increase the required reserve ratio. D) buy Treasury securities.
Sam, a fish wholesaler, entered into a contract with a department store to supply herring at a price of $2.50 per pound for a year. When a hurricane closed most fisheries Sam increased the price to $3.25 per pound and refused to sell at the old price. Sam's behavior is an example of opportunism
Indicate whether the statement is true or false