Analysis of Environmental Policy in the Power Sector by Yihsu Chen & Afzal S. Siddiqui & Makoto Tanaka
Author:Yihsu Chen & Afzal S. Siddiqui & Makoto Tanaka
Language: eng
Format: epub
ISBN: 9783030448660
Publisher: Springer International Publishing
5.8 End-of-Chapter Exercises
5.1
Consider the example of a Cournot duopoly in Sect. 5.3.2. Verify that the equilibrium market price under Cournot oligopoly is higher than that under perfect competition.
5.2
Extend the example of a Cournot duopoly in Sect. 5.3.2 to n symmetric firms with an identical cost structure. Also use the same inverse-demand function. Calculate the Nash–Cournot equilibrium outcome, i.e., the output of each firm and the market price. Show that the perfectly competitive price can be obtained by letting n approach infinity.
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