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Questions and Answers
Which of the following oligopoly models assumes that firms choose output levels simultaneously and independently?
Which of the following oligopoly models assumes that firms choose output levels simultaneously and independently?
- Cournot Bertrand
- Bertrand
- Stackelberg
- Cournot (correct)
Which oligopoly model assumes that one firm acts as a leader and sets its output level before the other firms?
Which oligopoly model assumes that one firm acts as a leader and sets its output level before the other firms?
- Stackelberg (correct)
- Cournot
- Bertrand
- Cournot Bertrand
Which oligopoly model assumes that firms compete on price rather than quantity?
Which oligopoly model assumes that firms compete on price rather than quantity?
- Cournot
- Stackelberg
- Cournot Bertrand
- Bertrand (correct)
