FTP, what is concept describing a market state in which there are only two firms?
A major innovation in the analysis of this concept was the conjectural variation due to Bowley, which anticipated the so-called "sophisticated" seller analysis known as Stackelberg's Model. The assumption that the seller will not have to deal with an independent change in market price is central to Bertrand's Model, which was intended to refute the original treatment of this concept developed by Antoine Cournot. FTP, what is concept describing a market state in which there are only two firms?
A major innovation in the analysis of this concept was the conjectural variation due to Bowley, which anticipated the so-called "sophisticated" seller analysis known as Stackelberg's Model.
duopoly