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Stackleberg Model : is another attempt at understanding the strategic decision making of oligopolistic firms. It derives its name from Heinrich Freiherr von Stackelberg whose brainchild was this model. It is also referred to as the leader - follower model as a leader firm is assumed to move first, followed by other firms in the industry. Like in the Cournot model, firms have to decide on the level of output they wish to produce but they no longer take the decision simultaneously.
Bertrand Model : focuses on price competition among firms. This model has similar assumptions as the Cournot model but the implications are vastly different. Bertrand model predicts that the existence of 2 firms in an industry can push prices down to marginal cost level, i.e., duopoly can result in perfect competition in the market.
The monetary calculate of the welfare associated with the change in the provision of some good. It is not to be confused with monetary value, unless the latter is explicitly desig
The circular flow diagram is used to represent the interdependence that exists between sectors of the economy. The diagram illustrates that there are various collections of same e
write about the origin of sylos labini''s limit pricing model
Capital Gain: A capital gain is a form of profit which is earned on an investment by re-selling an asset for more than it cost to buy. Assets that can be purchased for this purpose
using necessary and sufficient condition explain consumer surplus diagrammically and mathematically?
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Money market, labour market, goods market
Marketing Economies: These are derived from the bulk purchasing of inputs and bulk distribution of outputs. A large firm is able to buy its raw materials in larger quantities
Ask questMicroeconomics Reference No.:- #Minimum 100 words accepted#
what is diffusion and effusion of gases? Describe Graham''s law of diffusion, effusion. Diffusion of gases While during two gases are brought together they mix with each other in
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