ECW3830 WEEK 3
MULTIPLE CHOICE QUESTIONS
1. In the Bertrand model of oligopoly, two duopolists compete by
simultaneously choosing output.
simultaneously choosing price.
simultaneously choosing both output and price.
allowing the other firm to
ECW3830 Competition and
On completion of this topic students should be able to
Demonstrate an understanding of the importance of
market and indu
ECW1102 TUTORIAL SOLUTIONS WEEK 2 TUTORIAL 1
1 Explain why an economys income must equal its expenditure.
An economys income must equal its expenditure since every transaction
has a buyer and a seller. Expenditure by buyers equals income by sellers.
Office Use Only
Semester One Deferred & Supplementary (August) 2014
School of Business
TITLE OF PAPER:
Business, Competition and Regulation
2 hours writing time