How do I find profit in a labor market with 3 firms? Assuming an infinite number...

How do I find profit in a labor market with 3 firms? Assuming an infinite number of workers

Just need the equations. got confused,

Expert Solution

Rahul Sunny answered 1 year ago

Assuming all the same market conditions, do the duopolists make more profit in the equilibrium of...

Assuming all the same market conditions, do the duopolists make more profit in the equilibrium of the Cournot model, or in the equilibrium of the Bertrand model? -Duopolists make more profit in the Cournot model. -Duopolists make more profit in the Bertrand model. -Duopolists make the same profit in both the Cournot and the Bertrand model. Assuming all the same market conditions, in which model is the consumer surplus larger, in the Cournot equilibrium, or in the Bertrand equilibrium? -Consumer...

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