Which of the following is true?
A)In Bertrand oligopoly each firm believes that their rivals will hold their output constant if it changes its output.
B)In Cournot oligopoly firms produce an identical product at a constant marginal cost and engage in price competition.
C)In oligopoly a change in marginal cost never has an affect on output or price.
D)None of the statements associated with this question are true.

Question

Quizplus · Accepted Answer

The Answer of Which of the following is true?
A)In Bertrand oligopoly each firm believes that their rivals will hold their output constant if it changes its output.
B)In Cournot oligopoly firms produce an identical product at a constant marginal cost and engage in price competition.
C)In oligopoly a change in marginal cost never has an affect on output or price.
D)None of the statements associated with this question are true.

Which of the Following Is True