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Cournot, Stackelberg and Bertrand models describe market outcomes in an industry with two rival duopolists. Explain the insights of these models, focussing on outcomes for firms and consumers, compared to the standard competitive and monopoly outcomes.

Posted on April 11, 2022 by Ambrose

Intermediate Microeconomics Coursework Brief: Answer ONE of the following questions. The word count guideline is 1750 words. Cournot, Stackelberg and Bertrand models describe market outcomes in an industry with two rival duopolists. Explain the insights of these models, focussing on outcomes for firms and consumers, compared to the standard competitive and monopoly outcomes. A representative […]

Explain the difference between positive and normative economics.

Posted on March 11, 2021 by Ambrose

Case Assignment After reviewing the information listed on the background materials page, address the following questions in an essay or short-answer form. Support all your answers with references: 1. Explain the difference between positive and normative economics. Give a real-time example of each that you found in doing some outside research. 2. After doing some […]

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Cournot, Stackelberg and Bertrand models describe market outcomes in an industry with two rival duopolists. Explain the insights of these models, focussing on outcomes for firms and consumers, compared to the standard competitive and monopoly outcomes.

Explain the difference between positive and normative economics.