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M8 - Practice Quiz

M8 - Practice Quiz

Q 1.Compared to a cartel, firms in a Cournot Oligopoly 2. A Nash equilibrium occurs when 3. If a firm is selling a quantity that is NOT on its best-response curve it 4. A merger between a firm and one of its suppliers would be called 5.In a Bertrand model with identical products

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1. make less joint profit 2. players choose their best strategy given the strategies chosen by others 3. will want to change its behavior 4. a vertical merger 5. price is equal to marginal cost