Assuming a homogeneous product, the Bertrand equilibrium price is
A) independent of the number of firms.
B) independent of the firm's marginal costs.
C) equal to the Cournot equilibrium price.
D) equal to the monopoly price.
A
Economics
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Total government expenditure as a percentage of GDP is lower in the United States than in Sweden
a. True b. False
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All else equal, if there are diminishing returns, then which of the following is true if a country increases its capital by one unit?
a. Output will rise by more than it did when the previous unit was added. b. Output will rise but by less than it did when the previous unit was added. c. Output will fall by more than it did when the previous unit was added. d. Output will fall but by less then it did when the previous unit was added.
Economics