Question
What is common among Cournet, Bertrand, and Stackelberg models? Question 3 options: Total industry profits are less than what could be achieved if firms acted
What is common among Cournet, Bertrand, and Stackelberg models?
Question 3 options:
| Total industry profits are less than what could be achieved if firms acted like a cartel | |
| Decisions are always made sequentially | |
| Pricing is a fixed element; firms cannot adjust price | |
| Quantity is a fixed elements, firms cannot adjust output |
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Managerial Economics Foundations of Business Analysis and Strategy
Authors: Christopher Thomas, S. Charles Maurice
12th edition
1260004759, 9781260004755, 78021715, 78021718, 78021901, 978-0078021909
