Knowingo
Modern Industrial Organization
How do firms with market power set prices, output and strategies, and how do those choices affect consumers and society?
At a glance
- Author
- Dennis W. Carlton, Jeffrey M. Perloff
Why read it
- You will see why the classic oligopoly models predict very different prices and profits, depending on whether firms choose price or output
- You will understand why a bundle can lower profit when it forces sales to customers who value the items below cost
- You will learn how location choice becomes a strategic game when customers only care how far they travel
Who it is for
- An economics student studying competition and market power
- A manager who sets prices against a handful of rivals
- A regulator or lawyer assessing mergers and pricing practices
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