Multiple Choice
Suppose that in a perfectly competitive industry the equilibrium industry quantity is 10,000 units.Suppose that the monopoly output is 5,000.For a 2-firm Cournot Oligopoly (N =2) known as a duopoly,what is a likely Cournot QUANTITY for the industry?
A) 3,000 units
B) 5,000 units
C) 6,667 units
D) 10,000 units
E) 15,000 units
Correct Answer:
Verified
Correct Answer:
Verified
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