Assuming a homogeneous product, the Bertrand duopoly equilibrium price is
A) the same as the Cournot equilibrium price.
B) less than the Cournot equilibrium price.
C) greater than the Cournot equilibrium price.
D) equal to the monopoly price.
B
Economics
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When there is an excess of expected net income over the cost of capital
A) abnormal net income is positive. B) accounting profits are negative. C) abnormal net income is negative. D) economic profits minus abnormal net income is negative.
Economics
Recall from the text when Amar Bazazz discovered that very little of the actual gold deposits were ever taken from his cave, he inadvertently discovered the concept of
a. excess reserves b. bank liabilities c. loanable funds d. required reserves e. fractional reserves
Economics