Topic 11 Oligopoly

Question 1

normal-form game

Answer 1

model of social interactions to analyse interactions of individual agents (trade-offs etc)

Question 2

bertrand model

Answer 2

firms can obey the plan and have same prices or go lower attract customers

Question 3

cartel

Answer 3

OPEC
contract to restrict production, legal

Question 4

cournot model

Answer 4

n/a