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a) Explain the characteristics of these oligopoly models: 1') Cournot Model H) Stackelberg Model iii) Cartel. In your answer you must discuss these points: -Do

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a) Explain the characteristics of these oligopoly models: 1') Cournot Model H) Stackelberg Model iii) Cartel. In your answer you must discuss these points: -Do firms set quantity or price? - Do they act simultaneously or sequentially? - Do they cooperate or not? (1 points) b] Briefly discuss the unique equilibrium in Bertrand Model with identical products and costs. (5 points]

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