In the simplest version of the Cournot model, we assume
A) the firms set price independently and simultaneously.
B) the firms set price independently and sequentially.
C) that the firms have identical costs.
D) the firms are in a Nash equilibrium.
C
Economics
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What is the definition of the unemployment rate? How are part-time workers and discouraged workers treated when calculating the unemployment rate?
What will be an ideal response?
Economics
Archibald's Tattoos is a perfectly competitive firm. The firm's costs are shown in the table above. If the market price of a tattoo is $17.50 what is the firm's profit-maximizing output?
A) 2 tattoos per hour B) 3 tattoos per hour C) 4 tattoos per hour D) 5 tattoos per hour
Economics