Business, 24.05.2021 17:10 alexcuevaz90
True/False/Explain. There are N symmetric firms competing in an industry producing identical hula hoops. All firms having the same marginal costs of production, c, and compete simultaneously. If N increases from 2 to 5, the market price for hula hoops decreases when
firms compete either in quantities or prices.
a. True
b. False.
If firms compete in prices, as in Bertrand, the price will equal marginal cost, c, both when there are 2 or 5 competitors. That is, if the number of competitors increases from 2 to 5, the market price remains the same.
If firms compete simultaneously in quantities, as in Cournot, the market quantity increases with more firms. Thus, the market price falls.
Answers: 1
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Put each of them in order. you are a young entrepreneur with a startup business. you now seek credit from the bank to expand it. what are the steps you will have to take? 1. you support your loan application with relevant documents. 2. you fill out the loan application form at the bank 3. you get an approval for the loan and the money is disbursed to your business account 4. you use the credit to further your business plan. 5. you have an interview with the loan officer and you explain your business plan.
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True/False/Explain. There are N symmetric firms competing in an industry producing identical hula ho...
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