Suppose the market demand curve for a Bertrand duopoly is downward sloping. What happens to the Nash equilibrium price and market quantity if the constant marginal cost declines?

Endangered species are likely to be

A) private property. B) common property. C) both private and common property. D) neither private nor common property.

A business enterprise that allows the hiring of nonunion members conditional on their joining the union is

A) a closed shop. B) a union shop. C) a jurisdictional dispute. D) an industrial union.