QUESTION 29 6 points Save Answer SUBMISSION INSTRUCTIONS: Submit your answers to this question and Question 30 (Report) in a single Word or PDF document using the Turnitin tool available in the Assessment 1 folder (where you accessed this Window). REVIEW OF KEY MODELS: QUESTION INSTRUCTIONS You are now asked to give a concise, non-mathematical review of two of the following models: a. The Price Leadership Model b. The Cournot Model c. The Stackelberg's Model d. The Bertrand's Price Competition Model (Select TWO models of your choice.) For each model, you should present your review following these instructions: Provide a one-sentence definition of the model. Explain the key interactions of agents in the model, and how the market outcome is determined. Comment on applicability of the model: Find four (4) relevant applications of the model conducting your own research. Comment on the implications of the model for the design of policy tools. Word limit: 300 words per model, excluding list of references. No equations or theoretical diagrams should be used in your answer. Provide your answer as a single paragraph. Marking criteria a. One sentence definition: Precision and completeness (25%). b. Ability to understand and explain the key mechanisms of the model in a non-mathematical abstract way (25%). c. Ability to find relevant model applications through own research (25%). d. Ability to identify practical policy implications of model outcomes (25%). Total: 6 Marks = (Mark out of 100)/100 x 6 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).