The Cournot reaction function: Group of answer choices is most applicable to monopoly markets. maps out how firms work together to maximize profits shows how each firm makes its profit-maximizing decision while considering the entire market demand, the same as a monopolist. maps out the best response a firm could take for each possible action of the rival firm.

Which of the following best explains why the demand for housing is more flexible than the supply? a. new housing developments are being constructed all the time. b. low interest rates for mortgages make buying a home very affordable. c. the increasing population always drives demand upwards. d. people can move more easily than producers can build new homes.

Assume a competitive firm faces a market price of $60, a cost curve of c = 0.003q^3 + 25q + 750, and a marginal cost of curve of: mc = 0.009q^2 + 25.the firm's profit maximizing output level (to the nearest tenth) is , and the profit (to the nearest penny) at this output level is $ will cause the market supply to (shift right/shift left). this will continue until the price is equal to the minimum average cost of $

Question 1 2 points is the concern of business for the long-range welfare of both the company and its relationships to the society within which it operates