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Bertrand competition (Q828555)

From Wikidata
when firms set prices exceeding their marginal cost and their customers choose quantities at those prices, so that each firm maximise their profits by undercutting competitors' prices
  • Bertrand duopoly
  • Bertrand game
  • Bertrand model
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    Bertrand competition
    when firms set prices exceeding their marginal cost and their customers choose quantities at those prices, so that each firm maximise their profits by undercutting competitors' prices
    • Bertrand duopoly
    • Bertrand game
    • Bertrand model

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    instance of
    economic model
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