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apadong apadong
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7 years ago
Which of the following is NOT an assumption of the Cournot model presented in the text?
A) Both firms maximize profits.
B) There are two firms in an industry.
C) If the first firm cuts price, the second firm will follow and if the first raises price, the second will not follow.
D) Each firm takes the output of the other firm as given.
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DeToXiFYDeToXiFY
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7 years ago
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apadong Author
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#2
7 years ago
Thx very much
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