Augustin Cournot showed (in 1838) that each of a small number of quantity-setting firms in a homogeneous-product market will sense the influence of the individual firm's own output on market price, and will offer less than the competitive quantity
as a result. Indicate whether the statement is true or false
T When there are only a few firms, each firm will supply a small enough quantity to the market that it will be able to see how its own quantity will affect market price.
Economics
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One way to view equilibrium in the simple Keynesian model without government spending and taxes is that:
A) saving equals planned investment. B) saving equals planned expenditures. C) saving equals planned autonomous spending. D) None of the above.
Economics
The profit-maximizing output for the perfectly competitive firm occurs at the point at which
A) TR - MR is at a maximum. B) TR - TC is at a minimum. C) MR = MC. D) TR - ATC is at a maximum.
Economics