Question

_______Indicate whether each statement below is true or false, and justify your answer

____The Cournot oligopoly model is not useful for analysing competitionamong firms because (i) firms normally choose prices, not quantities, and (ii) firmsnormally do not make their decisions simultaneously

Answer #1

These type of firm have control over market and thus they are main decision makers of quantities supply and thus market force are not given that much importance like fully competition market.

False . . In such type of imperfect competition firms normally choose quantity over Prices as they are competing on the amount of output or product(homogenous ) and quantities which they are producing decided by them simultaneously.so demand is main deciding factor of the Prices .

False. . Firms make decisions at the same time and independently about quantities of homogenous products they are producing.

Indicate whether each of the following statements is
True or False, and Briefly Justify your answer.
The adjusted R2 is used because the unadjusted
R2 automatically and spuriously increases when extra
explanatory variables are added to the model.

Suppose there are n firms in a Cournot oligopoly model.
Let qidenote the quantity produced by firm
i, and let Q = q1 + q2
+…+ qn be the aggregate quantity in the market. Let
P denote the market clearing price and assume that the
inverse market demand is given by P(Q)=a - Q (when
Q<a, else P=0). Assume that the total cost for
firm i of producing quantity qi is
C(qi) = cqi . That
is, there are no...

Assume that there are 4 firms in a Cournot oligopoly game. Let
qi denote the quantity produced by firm i, and let q =
q1 + q2 + q3 + q4
denote the aggregate quantity on the market. Let P be the market
clearing price and assume that the market inverse demand equation
is P(Q) = 80 – Q. The total cost of each firm i from producing
quantity qi is Ci(qi) =
20qi. The marginal cost, 20, is constant...

True or False (Determine if the statement is true or false and
write the answer below. Each question is worth 1 point.)
1) Macroeconomics is concerned with the behavior of all of the
firms in a particular industry, while microeconomics focuses on a
single firm in the same industry.
Answer:
2) Managerial economics refers to the application of
macroeconomics and microeconomics to business decision
making.
Answer:
3) Because it is the only firm operating in a particular
market, a monopolist...

Is the following statement true or false? Justify your
answer.“If the supply is less elastic than the demand, the
government will make the most taxrevenue by imposing a tax on the
sellers rather than on the buyers.”

Decide whether the following statement is true or false then
justify your decision: “X-bar charts describe the accuracy of a
process, and R and s charts describe the precision.”
subject: quality improvement

Indicate whether the following statements are true or
false and justify the answer.
(I) If f and g are functions defined for all real
numbers, and f is an even function, then f o g is also an even
function.
(II) If a function f, defined for all real
numbers, satisfies the the equation f(0) = f(1), then f does not
have an inverse function.

Determine whether the statement is true or false. If it is
false, rewrite it as a true statement.
As the size of a sample increases, the standard deviation of
the distribution of sample means increases.
Choose the correct choice below.
A. This statement is false. A
true statement is, "As the size of a sample decreases, the
standard deviation of the distribution of sample means
decreases."
B. This statement is false. A
true statement is, "As the size of a...

TRUE / FALSE + (explanation)
Please answer whether a statement is true or false and give a
1-2 sentence explanation of why this is the case.
1.1 Firms do not reap the benefits of their positive
externalitiesso they always produce too little.
1.2 In a static game, Nash Equilibrium are always
subgame perfect.
1.3 Risk averse individuals never prefer a lottery over
a sure bet.
1.4 Product differentiation makes consumers and
producers better off.
- Thank you!

Are the following statements True, False or Uncertain? You will
also need to justify your answer.
(a) In using cross-sectional data to investigate the
demand for food, prices of food are likely to exhibit little or no
variation which leads to biased econometric estimates of the
parameters of the demand equation.
(b) If the disturbances in a classical linear
regression model are not normally distributed, then the OLS
estimator is no longer BLUE but it is still unbiased.

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