In an industry with a small number of equal-sized firms where none of the firms have superior knowledge,the _____ is most likely to apply.
A)Cournot model of oligopoly
B)perfectly competitive model
C)dominant firm model of oligopoly
D)Stackelberg model of oligopoly

Question

Quizplus · Accepted Answer

The Cournot model of oligopoly is most applicable in a scenario where there are a few firms of equal size and none possesses superior knowledge. This model assumes that firms choose quantities simultaneously and are interdependent, fitting the described industry structure.

In an Industry with a Small Number of Equal-Sized Firms