Multiple Choice
Suppose a Cournot oligopoly is operating in a market where demand is linear and marginal costs are constant.We can conclude that the total output supplied is
A) 1/3 of the perfectly competitive output.
B) 1/2 of the perfectly competitive output.
C) 2/3 of the perfectly competitive output.
D) equal to the competitive output.
Correct Answer:
Verified
Correct Answer:
Verified
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