Question

Arrange the following models in a chronological order oldest to latest: A. Cournot's Model, B. Bertrand Model, C. Edgeworth Model, D. Chamberlin Model, E. Sweezy Kinked Demand Curve.

• A. A, B, C, D, E
• B. A, B, D, C, E
• C. A, C, B, D, E
• D. A, C, D, B, E

Hint:

For oligopoly models, remember: Cournot comes first, followed by Bertrand and Edgeworth, then later Chamberlin and Sweezy.

Answer 1

The Correct Option is C

Step 1: Understanding the Question:

• We must arrange the oligopoly / market-structure models from the oldest to the latest.

Step 2: Detailed Explanation:

• Cournot's model (A) is the earliest of these models.

• It is followed by the Edgeworth model (C), then the Bertrand model (B), as given in the NTA final answer key.

• Chamberlin's model (D) of monopolistic competition comes next, and Sweezy's kinked demand curve (E) is the latest.

• So the chronological order is A, C, B, D, E, which is Option (C).

Step 3: Final Answer:

• The correct option is (C) A, C, B, D, E.