Respuesta :
Other things being equal, Bertrand's oligopolist is expected to make the lowest profits.
Bertrand Oligopolist is expected to make the lowest profits as the opposite oligopolists produce underneath the perfectly competitive level of output, Bertrand's equals the level.
In a Bertrand model of oligopoly, firms independently pick costs if they want to maximize income. this is performed by assuming that competitors' costs are taken as given. The ensuing equilibrium is a Nash equilibrium in prices, known as a Bertrand (Nash) equilibrium.
An oligopoly is a market shape wherein a marketplace or industry is dominated with the aid of a small wide variety of big sellers or producers. Oligopolies frequently end result from the preference to maximize profits, leading to collusion among companies.
The number one idea at the back of an oligopolistic market is that some groups rule over many in a selected marketplace or industry, supplying similar goods and services. because of a limited quantity of gamers in an oligopolistic marketplace, competition is confined, permitting every firm to function effectively.
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