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...

Intermediate microeconomic analysis traditionally treads lightly in matters of non-price competition. Most of the analysis in Microeconomic Theory, IO, and Managerial Economics texts that is devoted to the topic at both the graduate and undergraduate level is found in chapters on game theory as...

The classification of markets according to the nature of competition among firms is one of the fundamental pillars of microeconomics. The use of firm-level cross-price elasticity for this purpose was first proposed by Kaldor in 1934. This was followed by a lively debate with contributions from...