Industrial Economics-Micro Level Investment Decisions and Behavior of Firms [IEcoS (Economic Services) Economics Paper-3]: Questions 1 - 1 of 1
Choose Programs:
📹 Video Course 2024 (40 Lectures [15 hrs : 8 mins]): Offline Support
Rs. 100.00 -OR-
1 Month Validity (Multiple Devices)
Preview All LecturesDetails
🎓 Study Material (78 Notes): 2024-2025 Syllabus
Rs. 200.00 -OR-
3 Year Validity (Multiple Devices)
Topic-wise Notes & SampleDetails
🎯 154 Questions (& PYQs) with Full Explanations (2024-2025 Exam)
Rs. 500.00 -OR-
3 Year Validity (Multiple Devices)
CoverageDetailsSample Explanation
Help me Choose & Register (Watch Video) Already Subscribed?
Question 1
Appeared in Year: 2017
Describe in Detail Subjective▾
Distinguish between Cournot and Bertrand models of duopoly. (200w, 15 Marks)
EditExplanation
Classical models of duopoly (only two producers) are given by French economists Augustin Cournot and Joseph Bertrand. Both the models, assuming that firms ignore their interdependence, provides solution to the price-output determination problem in oligopoly. However, there are important differences in the assumptions of these models.
… (199 more words, 1 figure) …