True/False Please explain Why is True/False

Economics:
10th Edition
ISBN:9781285859460
Author:BOYES, William
Publisher:BOYES, William
Chapter28: Antitrust And Regulation
Section: Chapter Questions
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True/False Please explain Why is True/False

1)Firms in all types of market structures pay attention to current rival firms' behavior.
2)The three models of oligopolies, Cournot, Stackelberg and Bertrand, all assume firms independently
choose the quantity of output to produce
3)if there are 2 identical firms in a market that choose the quantity they produce, total welfare is the
highest when there is a cartel.
Transcribed Image Text:1)Firms in all types of market structures pay attention to current rival firms' behavior. 2)The three models of oligopolies, Cournot, Stackelberg and Bertrand, all assume firms independently choose the quantity of output to produce 3)if there are 2 identical firms in a market that choose the quantity they produce, total welfare is the highest when there is a cartel.
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