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Microeconomics II
book

Microeconomics II

by D.N. Dwivedi
August 2011
Intermediate to advanced content levelIntermediate to advanced
368 pages
14h 51m
English
Pearson India
Content preview from Microeconomics II
Price and Output Determine Oligopoly 145
THE GAME THEORY
In the preceding sections, we have discussed the classical models of strategic action and reaction among
the oligopoly rms and the cartel system of price and output determination. We have also discussed
Baumol’s theory of sales maximization. We have also noted that none of the models explains satisfacto-
rily the strategic actions and reactions of the oligopoly rms nor do they oer a lasting solution to their
prot or sales maximization objective. But, the search for a reasonable solution to this problem does not
end there. Classical theories show, in fact, only the beginning of the ...
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Publisher Resources

ISBN: 9788131797655