Explain the difference between the Bertrand model of oligopoly and the Cournot model of oligopoly. In a

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Explain the difference between the Bertrand model of oligopoly and the Cournot model of oligopoly. In a homogeneous products oligopoly, what predictions do these models make about the equilibrium price relative to marginal cost?

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Microeconomics

ISBN: 978-0073375854

2nd edition

Authors: Douglas Bernheim, Michael Whinston

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Question Posted: Mar 17, 2016 05:03 AM

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Explain the difference between the Bertrand model of oligopoly and the Cournot model of oligopoly. In a

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In the Cournot model of oligopoly firms choose a level of output given the output choices ...View the full answer

Microeconomics

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