Assuming Cournot behavior, what happens to the market output, the price of the output, and each firm's output as the number of firms in a market increases?
What will be an ideal response?
As the number of firms increases, price declines, and each firm produces less, but total market output increases.
Economics
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Using a graph, show a short-run equilibrium for the industry and the firm. Explain the graph
What will be an ideal response?
Economics
A common feature(s) of the early years of transition
a. Recession b. Hyperinflation c. Creation of democracy d. Macroeconomic stability e. A and b
Economics