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    Managerial Economics

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    Agustinus
    An industry is characterized as a Stackelberg oligopoly if: 1. There are a few firms serving many consumers producing either differentiated or homogeneous goods. 2. One firm (the leader) chooses output first, then followers choose output maximizing profits given the leader's output. 3. Barriers to entry exist preventing new firms from entering the market.

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    Managerial Economics

    Uploaded by

    Agustinus
    25 views7 pages
    An industry is characterized as a Stackelberg oligopoly if: 1. There are a few firms serving many consumers producing either differentiated or homogeneous goods. 2. One firm (the leader) chooses output first, then followers choose output maximizing profits given the leader's output. 3. Barriers to entry exist preventing new firms from entering the market.

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    An industry is characterized as a Stackelberg oligopoly if: 1. There are a few firms serving many consumers producing either differentiated or homogeneous goods. 2. One firm (the leader) chooses output first, then followers choose output maximizing profits given the leader's output. 3. Barriers to entry exist preventing new firms from entering the market.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    25 views7 pages

    Managerial Economics

    Uploaded by

    Agustinus
    An industry is characterized as a Stackelberg oligopoly if: 1. There are a few firms serving many consumers producing either differentiated or homogeneous goods. 2. One firm (the leader) chooses output first, then followers choose output maximizing profits given the leader's output. 3. Barriers to entry exist preventing new firms from entering the market.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 7

    Stacklberg Oligopoly

    An Industry in which:
    1. There are few firms serving many consumers;
    2. Firms produce either differentiated or homogeneous products;
    3. A single firm (the leader) chooses an output before rivals select their outputs;
    4. All other firms (the followers) take the leader’s output as given and select outputs
    as given and select outputs that maximize profits given the leader’s output; and
    5. Barriers to entry exist.
    Characteristic

    An industry characterized as Stackelberg oligopoly if:


    1. There are few firms serving many consumers
    2. The firms produce either differentiated or homogeneous products
    3. A single firm (the leader) chooses an output before all other firms choose their
    outputs
    4. All other firms (the followers) take as given the output of the leader and choose
    outputs that maximize profits given the leader’s output
    5. Barriers to entry exist
    Bertand Oligopoly
    An Industry in which:
    1. There are few firms serving many consumers;
    2. Firms produce identical products at a constant marginal cost;
    3. Firms compete in price and react optimally to competitors’ price;
    4. Consumers have perfect information and there are information and there are no
    transaction costs; and
    5. Barries to entry exist
    Characteristic

    An industry characterized as Stackelberg oligopoly if:


    1. There are few firms in the market serving many consumers
    2. The firms produce identical products at a constant marginal cost
    3. Firms engage in price competition and react optimally to prices charged by
    competitors
    4. Consumers have perfect information and there are no transaction costs
    5. Barriers to entry exist
    Comparing Oligopoly Models
    1. Individual firm outputs
    2. Price in the market
    3. Profits per firm
    Contestable Market
    An Market in which:
    1. All firms have access to the same technology
    2. Consumers respond quickly to price changes
    3. Existing firms cannot respond quickly to entry by lowering their prices
    4. There are no sunk costs
    Characteristic

    An industry characterized as Stackelberg oligopoly if:


    1. There are few firms in the market serving many consumers
    2. The firms produce identical products at a constant marginal cost
    3. Firms engage in price competition and react optimally to prices charged by
    competitors
    4. Consumers have perfect information and there are no transaction costs
    5. Barriers to entry exist

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