3 Questions
Which of the following oligopoly models assumes that firms choose output levels simultaneously and independently?
Cournot
Which oligopoly model assumes that one firm acts as a leader and sets its output level before the other firms?
Stackelberg
Which oligopoly model assumes that firms compete on price rather than quantity?
Bertrand
This quiz tests your knowledge on quantity-setting oligopoly models. You will be asked to identify which models fall under this category, including Cournot only, Stackelberg and Cournot, and Stackelberg only. Perfect for economics students or anyone interested in learning more about game theory.
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