#71.1 BERTRAND DUOPOLY MODEL | CLASSICAL MODEL | OLIGOPOLY | скачать в хорошем качестве

#71.1 BERTRAND DUOPOLY MODEL | CLASSICAL MODEL | OLIGOPOLY |

BERTRAND DUOPOLY MODEL | OLIGOPOLY | MICRO ECONOMICS |EKM | What is the Bertrand model of oligopoly? What is the difference between Cournot and Bertrand? अल्पाधिकार का बर्ट्रेंड मॉडल क्या है? Bertrand's model of oligopoly is an economic model where firms compete on price, assuming they produce identical products and make their pricing decisions simultaneously. In this model, each firm believes its competitors will hold their prices constant, leading them to undercut each other's prices until they reach the marginal cost of production. This results in a price war, and the outcome is similar to perfect competition, with firms earning zero economic profit. #micro #economics #oligopoly #bertrand #cournot #upsc #net #ugc Class 11 Micro    • CLASS 11 MICRO NCERT   👉 Micro /Business Economics for UG & PG classes    • MICRO ECONOMICS: COMPLETE   @Indifference Curve    • INDIFFERENCE CURVE   @Production Function    • THEORIES OF PRODUCTION   @Cost Theory    • THEORY OF COST   @Mononpolistic Competition    • MONOPOLISTIC COMPETITION   @Factor Pricing    • FACTOR PRICING (MP THEORY)   @Macro Theories of Distribution    • MACRO THEORIES OF DISTRIBUTION   @Welfare Economics    • WELFARE ECONOMICS