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question #2
2. Which of the following features belong to Cournots’ model of duopoly ?
(a) It yields determinate and stable equilibrium for the duopolists
(b) It is an adequate representation of Nash equilibrium
(c) If the duopolists combine to form a monopoly, the price changed by them will be less than the equilibrium price without their combining together.

Of the above which statements are true ? Choose from the code below :


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NET Paper 3 - Economics - Nov 2017