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Cournot and Bertrand Equilibrium Problems by jinnah kay is a document available to read on EtoBox.
This document contains 4 practice problems related to microeconomic theory involving Cournot and Bertrand competition between firms. Problem 1 involves calculating the reaction functions and Cournot-Nash equilibrium for 2 farmers producing milk. Problem 2 does the same for a duopoly with linear demand and costs. Problem 3 generalizes to an n-firm Cournot model with zero costs and exponential demand. Problem 4 considers Bertrand competition between 2 firms with constant marginal costs and discrete pricing.
- Author
- jinnah kay
- Language
- EN