ECON 315 FINAL Concepts Complete Verified Solutions Graded A+ 2023
ECON 315 FINAL Concepts Complete Verified Solutions Graded A+ 2023 Chapter 9: Basic assumptions of Oligopolies Oligopoly - Few firms in the market - The actions of one firm are considered by other firms when making decisions (Quantity of Output) Duopoly 2 firms Cournot Oligopoly In case of collusion, act as monopoly: MR = MC Stackelburg Oligopoly One firm leads the market and the others follow Chapter 10: Game Theory Game Theory if a strategy is always better regardless of what other firm does, it is a a dominant strategy Nash Equilibrium If a firm does not have a dominant strategy, it will check to see if other firm has a dominant strategy. If it does, then it eliminates the non dominant strategy choice for other firm Secure Strategy Firm tries to avoid worst possible outcome Random Strategy
Escuela, estudio y materia
- Institución
- Liberty University
- Grado
- ECON 315
Información del documento
- Subido en
- 11 de mayo de 2023
- Número de páginas
- 2
- Escrito en
- 2022/2023
- Tipo
- Examen
- Contiene
- Preguntas y respuestas
Temas
-
econ 315 final
-
econ 315 final concepts complete verified solutions graded a 2023
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