Question: a. What oligopoly model could generate the following data? Explain. Price 1 2 3 3 4 5 6 Number of firms b. Suppose that the

a. What oligopoly model could generate the

a. What oligopoly model could generate the following data? Explain. Price 1 2 3 3 4 5 6 Number of firms b. Suppose that the widget industry is a duopoly. What model would generate the following market share data for Firm 1? What set of events explains the movements of Firm l's market share over time, under this model. Firm 1 share % 100 50 to ti Time d. Suppose that you know the equilibrium price of widgets and also outputs for each firm. However, you do not know marginal cost. What model could generate the data in the following figure for Firm 1? Explain. Firm 1 Price 50 1 2 3 4 # of widget producers

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