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This paper develops a theory of oligopoly and markups in general equilibrium. Firms compete in a network of product … excess of 10 US$ trillions (against $3 trillions of profits). Oligopoly lowers total surplus by 11.5% and depresses consumer …
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We characterize equilibria of oligopolistic markets where identical firms with constant marginal cost compete à la Cournot. For given maximal willingness to pay and maximal total demand, we first identify all combinations of equilibrium consumer surplus and industry profit that can arise from...
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1. Monopoly -- 2. Simultaneous quantity competition -- 3. Simultaneous price competition -- 4. Sequential competition … industrial organization focus on theory and empirical findings, this textbook offers practical examples that predict firm … monopoly and moving through the Cournot model of simultaneous quantity competition, the Bertrand model simultaneous price …
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