Multiple Choice
Suppose Cournot duopolists firms face the same market demand curve,but have differing costs.At the Nash-Cournot equilibrium,the firm with the higher cost will
A) have a lower price for its product than its competitor.
B) have a smaller profit than its competitor.
C) have a higher price for its product than its competitor.
D) have a higher profit than its competitor.
Correct Answer:
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A) anticompetitive behavior.
B) more