Lecture 31 - 31 Oligopoly 1 Recap from last Session...

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1 31 : Oligopoly
Prof. Trupti Mishra, School of Management, IIT Bombay Recap from last Session Determination of price and output in the short/long run Non Price Competition
Prof. Trupti Mishra, School of Management, IIT Bombay Session Outline Features of Oligopoly Non-collusive models of oligopoly
Non price competition product innovation and advertisement Two common form of non-price competition is 1.Product innovation and 2.Advertisement Both go on simultaneously. Cost incurred on these-selling cost 4 Prof. Trupti Mishra, School of Management, IIT Bombay