This paper explores the character of long-run equilibrium in an oligopoly model with Cobb-Douglas production and demand. The model is a Bertrand type model in that firms choose production, but the product may be differentiated as well as homogeneous in nature. The long run equilibrium explored...

This paper explores the character of long-run equilibrium in an oligopoly model with Cobb-Douglas production and demand. The model is a Cournot type model in that firms choose production, but the product may be differentiated as well as homogeneous in nature. The long run equilibrium explored...