15.7, deviations are detected after just one period. Next, assume that is not given but rather is...

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15.7, deviations are detected after just one period. Next, assume that is not given but rather is determined by the number of firms that choose to enter the market in an initial stage in which entrants must sink a one-time cost K to participate in the market. Find an upper bound on n. Hint: Two conditions are involved.

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Microeconomic Theory Basic Principles And Extensions

ISBN: 9780324585377

10th Edition

Authors: Walter Nicholson, Christopher M. Snyder

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