Interesting fact about Bertrand model is that it’s the same outcome that would have occurred if they were in a perfectly competitive market because competition would have driven prices down to marginal cost. So, in a situation where competition is based on price and the good is relatively homogeneous, as few as two firms can drive the market to an efficient outcome.
Which is the capital of Uttarakhand?
In which stage of cotton growth are flowering and boll formation considered critical for irrigation?
The relationship between two organisms, where both of them benefit from each other is called:
The Livestock Census is a critical exercise for assessing the status and health of the livestock sector in India. It provides comprehensive data on the ...
Which of the following represents the purity or strength of colour in Munsell colour chart?
During germination, seeds absorb water by
The International Union for the Protection of New Varieties of Plants (UPOV) is an intergovernmental organization with headquarters in
Which of the following is capable of oxidizing sulfur to sulfates?
A market characterized by large number of sellers and buyers and homogenous product is known as
When an allele of one gene hides or masks the visible output, or phenotype, of another gene it is known as:
