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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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