In this lecture we look at some of the ways a monopolist can obtain higher profits than in the standard monopoly solution.
Below is the mock mid-term multiple choice test.
In this lecture we try to answer the question: “Will profits in reality be higher or lower than under Cournot?”. We look at the origins of Cournot competition, and analyze collusion in dynamic oligopoly.
In this lecture we go further into the consequences of Bertrand and Cournot competition, and we investigate the links between the two.