125521
| Question | Answer |
| Stackelberg | Assumptions: homogenous goods, profit max firms, high barriers to entry and exit, no collusion, perfect information Outcomes: Price is same for all. In duopoly case – first mover has twice the quantity of the follower Theory: Model of sequential entry, first entrant has a first-mover advantage and follower has perfect information. |
Want to create your own Flashcards for free with GoConqr? Learn more.