The output effect refers to how Select one: a. firms choose their quantities. b. lower output...
The output effect refers to how Select one:
a. firms choose their quantities.
b. lower output affects the price.
c. lower prices affect revenue.
d. firms can set their prices.
e. lower prices affect the quantity sold.
Homework Answers
Answer :- Option (e) " lower prices affect the quantity sold " is the correct answer.
Because the output level of the firm is inefficient.
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The output effect refers to how Select one:
a. firms choose their quantities.
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(5 pts) When firms choose quantities of output, as in the Cournot model, what happens to...
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