In the Bertrand model of duopoly, each firm sets its price, believing that the other's price will not change. When both firms have identical production functions and produce with constant returns to scale, the Bertrand equilibrium price is equal to marginal cost.
A: 错
B: 对
A: 错
B: 对
举一反三
- If, in long run equilibrium, the competitive price of some good is $16.67, then, for each and every firm in the industry, A: marginal cost > average cost = $16.67. B: marginal cost < average cost = $16.67. C: $16.67 = marginal cost = average cost. D: $16.67 = marginal cost > average cost.
- A perfectly competitive firm maximizes its profit by A: setting its price so that it exceeds the marginal revenue. B: choosing to produce the quantity that sets MC equal to MR. C: cutting wages. D: manipulating demand.
- In Bertrand competition between two firms, each firm believes that if it changes its output, the rival firm will change its output by the same amount.
- With scarcity, the price would equal only the ( ). A: marginal user cost B: marginal cost of extraction C: the sum of marginal extraction cost and marginal user cost. D: fixed costs
- Which of the following statements is most accurate regarding a firm’s cost of preferred shares A firm’s cost of preferred stock is:（） A: the market price of the preferred shares as a percentage of its issuance price. B: the dividend yield on the firm’s newly-issued preferred stock. C: approximately equal to the market price of the firm’s debt as a percentage of the market price of its common shares.