Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
Which of the following oligopoly models assumes that firms make decisions sequentially, with one firm acting as a leader and the other(s) as followers?
Which of the following oligopoly models assumes that firms make decisions sequentially, with one firm acting as a leader and the other(s) as followers?
- Cournot only
- Bertrand
- Stackelberg only
- Stackelberg and Cournot (correct)
Which of the following oligopoly models assumes that firms make decisions simultaneously and compete on price?
Which of the following oligopoly models assumes that firms make decisions simultaneously and compete on price?
- Stackelberg and Cournot
- Bertrand (correct)
- Stackelberg only
- Cournot only
Which of the following oligopoly models assumes that firms make decisions sequentially, with all firms acting as followers?
Which of the following oligopoly models assumes that firms make decisions sequentially, with all firms acting as followers?
- Stackelberg and Cournot
- Cournot only (correct)
- Bertrand
- Stackelberg only
