Question

elucidate price and output determination under courtnot and stackelberg models of oligopoly

Answer 1

Explanation:

(a) Elucidate price and output determination under Cournot and Stackelberg models of Oligopoly. ... The firm has a linear cost function: C(q) = 4q, where q represents quantity produced by the firm. The market inverse demand function is given by P(Q) = 24 − 2Q, where Q represents total industry output.