HW II oligopoly and product differentiation

HW II oligopoly and product differentiation - Home Work II...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Home Work II Exam II Preparation Assignment This assignment is due in class Tuesday April 29. The assignment will not be accepted if it is turned in late. The assignment will not be accepted unless it is typed. 1) Consider the following Game: Compete Cooperate Compete 6 6 14 5 Cooperate 5 14 12 12 (numbers in the left of each cell indicate payoff to the player in rows. Numbers in the right of each cell represent the payoff to the player in columns) a) Indicate the equilibrium for a Infinitely played game for which enforceable contracts are possible. b) Indicate the equilibrium for a game played only a finite number of times, in which enforceable contracts are not possible. c) Indicate the Nash equilibrium for the game if it were played only one time. Does any player have a Dominant strategy. d) In your own words define “Nash equilibrium”. 2) Fill in the blank: Cooperative oligopoly behavior is the study of a . Noncooperative Oligopoly behavior may be modeled using or models. (Hint: Cartel, Bertrand, Cournot, Perfectly Competitive, Monopoly, Elasticity of Demand)
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/15/2011 for the course ECON 247 taught by Professor Bradberry during the Fall '10 term at CUNY Queens.

Page1 / 3

HW II oligopoly and product differentiation - Home Work II...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online