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- 1StackelbergAssumptions: homogenous goods, profit max firms, high barriers to entry and exit, no collusion, perfect information
Outcomes: Price is same for all. In duopoly case – first mover has twice the quantity of the follower
Theory: Model of sequential entry, first entrant has a first-mover advantage and follower has perfect information.
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- Postgraduate Pharma Flashcards on Untitled, created by nrnaylor on 07/06/2013.
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- nrnaylor
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