4. Under imperfect competition withquality orand horizontaly differentiated products, the firmunits from a welfare perspective.marginal costs sellsa. price competition à la Hotelling; higher; lower; too fewb. quantity competition à la Hotelling; higher; lower; too fewc. quantity competition à la Cournot; higher; higher; too fewd. price competition à la Hotelling; lower; lower; too manywith5. The n-firmmodelperfect competition as the number of firmsa. asymmetric linear Bertrand; converges to; decreasesb. symmetric linear Cournot; converges to; increasesc. symmetric non linear Cournot; diverges from; decreasesd. symmetric non linear Bertrand; diverges from; increases6. In the linearmeasure of market power since it captures the average markup in equilibrium.a. Cournot; Herfindahl; appropriateb. Bertrand; Herfindahl; inappropriatec. Cournot; Lerner; appropriated. Bertrand; Lerner; inappropriatemodel with homogeneous products, theindex is an

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4. Under imperfect competition with with and horizontaly differentiated products, the firm units from a welfare perspective. marginal costs sells a. price competition à la Hotelling; higher; lower; too few b. quantity competition à la Hotelling; higher; lower; too few c. quantity competition à la Cournot; higher; higher; too few d. price competition à la Hotelling; lower; lower; too many quality or 5. The n-firm model perfect. competition as the number of firms

4. Under imperfect competition with with and horizontaly differentiated products, the firm units from a welfare perspective. marginal costs sells a. price competition à la Hotelling; higher; lower; too few b. quantity competition à la Hotelling; higher; lower; too few c. quantity competition à la Cournot; higher; higher; too few d. price competition à la Hotelling; lower; lower; too many quality or 5. The n-firm model perfect. competition as the number of firms

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter22: Frontiers Of Microeconomics

Section: Chapter Questions

Problem 4PA

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