Class notes
MARKETS STRUCTURE V : MICRO-ECONOMICS THEORY III
Rating
Sold
-
Pages
14
Uploaded on
17-08-2021
Written in
2021/2022
In a Bertrand model, each firm chooses its price given its believes about the price that the other firm will choose and the only equilibrium price is the competitive equilibrium. a cartel consists of a number of firms colluding to restrict output and maximize industry profit. A cartel will typically be unstable in the sense that each firm will be tempted to sell more than it’s agreed upon output, if it believes that the other firms will not respond
Show more
Read less
Institution
Columbia University
Whoops! We can’t load your doc right now. Try again or contact support.
Written for
Document information
- Uploaded on
- August 17, 2021
- Number of pages
- 14
- Written in
- 2021/2022
- Type
- Class notes
- Professor(s)
- Professor ndii
- Contains
- All classes
Subjects
- markets structure v
-
economics micro economics theory iii
-
simultaneous price setting
$13.49
Get access to the full document:
100% satisfaction guarantee
Immediately available after payment
Both online and in PDF
No strings attached
Get to know the seller
Ben002
