Get Stackelberg’s Model of Duopoly Homework Help at Your Doorstep
A model developed by German economist Heinrich von Stackelberg is a study of imperfect market competition where there is non-cooperative scenario. Yes, the study does sound difficult and is one too. Students generally struggle with the concepts and when it comes to home assignments, God help! Well we don’t say we are God, but we are His sent angels for sure. We try making the journey of learning economics easy.
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Nature of Stackelberg’s model of duopoly:
It essentially studies the breaking point of the market structure. It is often called the leader-follower model. It is a sequential game where analysis of duopolies is done. The model states that the leader has the entire right of selling the goods at a quantity decided by. The follower can sell within the limits of the leader only.
In a lay man’s language, let us say that there are two firms. Firm 1 chooses the quantity and can rise in the market due to its reputation, innovative ideas, information etc. Here firm 1 is given the reaction curve of the firm 2. Now when it is the turn of firm 2, whochooses to follow firm 1,the only notable aspect being the quantity sold by firm 2 should not be more than that of the leader firm.
Terms associated with Stackelberg’s model of duopoly
There are various terms associated with the study of Stackelberg’s model of duopoly.Each term plays important role. With Stackelberg’s model of duopoly homework help the terms are understood better. Few definitions to ponder upon are as follows-
- Imperfect competition
- Market structure
- Duopoly
- Cournot’s model
- Bertrand’s model
- Sequential game
- Game theory
- Nash equilibrium
What kind of home assignments can students get?
The Stackelberg’s model of duopoly focuses on the market structure and equilibrium. Professors therefore prefer giving many case studies, presentations, graphical representations, essay types, group assignments, projects etc. related to the topic. Difference of using Bertrand model,Cournot model as well as Stackelberg’s model is also given. Completion of the assignments is extremely difficult without Stackelberg’s model of duopoly assignment help
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