The output of firms is determined simultaneously in
[選擇]
Cournot
Stackelberg
competition but sequentially in
[選擇]
Stackelberg
Cournot
competition.

Question

The output of firms is determined simultaneously in 
[選擇]
Cournot
Stackelberg
 competition but sequentially in 
[選擇]
Stackelberg
Cournot
 competition.

BlackTom AI · Accepted Answer

The question presents two parts where the output of firms is determined under different competition formats, using two dropdowns.

First dropdown analysis:
- Option: Cournot. Explanation: In a Cournot competition, firms choose quantities simultaneously, taking into account rivals’ output but not their current decisions. This fits the description of “output determined simultaneously” because decisions are made at the same time rather than in sequence.
- Option: Stackelberg. Explanation: In Stackelberg competition, firms act sequentially with a leader and followers, so outputs are not determined simultaneously but in a leaders-followers sequence. If one of the choices claimed simultaneous determination for Stackelberg, that would be incorrect because the defining feature of Stackelberg is the temporal ordering.

Second dropdown analysis:
- Option: Stackelberg. Explanation: In Stackelberg competition, the leader moves first and the follower observes that move and then chooses its quantity, creating a sequential determination of outputs. This aligns with the description in the second blank.
- Option: Cournot. Explanation: In Cournot competition, firms choose quantities simultaneously, without observing rivals’ choices before deciding. If this option were selected for the second blank, it would conflict with the sequential nature characteristic of Stackelberg, making it incorrect for that position.

Putting the pieces together, the intended pair is that the output of firms is determined simultaneously in Cournot competition but sequentially in Stackelberg competition, which matches the provided answer sequence.

ECON3200001.1251 Pre-class Quiz 7

The output of firms is determined simultaneously in [選擇] Cournot Stackelberg competition but sequentially in [選擇] Stackelberg Cournot competition.

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