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OLIGOPOLY (CONTINUED)
Stackelberg Model.
Bertrand Model.
Cartels.
Comparison of Collusive/cartel, Cournot,
Stackelberg, and Competitive Equilibria.
OLIGOPOLY (CONT.)
MC $5
p
1 1 /( n ) 1 1 /( n )
MC
S
em
pm pm
AC
pc pc ec
MCm
MCm
Market demand
MR
qm qc q* Qm Qc
Quantity, q, Units Quantity, Q, Units
per year per year