Thank you for your video. I have one question. In your video you say in a duopoly the output is 2/3 of the output at perfect competition. I understand that, because you show the calculation of Q = 12 and 12 is 2/3 of 18. But then you go on with three firms. Why is it 3/4 of 18 if you have three firms? I don't understand that. Thank you!
Hope you found it informative. As for your comment I have always said to my students that my videos are helpful for those having difficulty getting to sleep at night and should not be listened to while driving or operating heavy machinery. Show less
Merely because it makes the comparison with the monopoly diagram easier. Students are usually more familiar with a monopoly diagram rather than reaction curves and I find it gives a neat way to observe the welfare differences between monopoly, perfect competition and Cournot oligopoly which is a non-price competition approach. Of course, it is possible to change the model to introduce fixed costs as well as differences in costs between firms in oligopoly models and I did do this when I was teaching. Anyway I hope you enjoy your studies of economics and keep asking questions like the one you did.
Your comment makes absolutely NO sense. Being objective means presenting facts rather than opinions. How would that make him less tired? Also, he doesn't sound tired but rather bored. I reckon that's because he understands economic theories/models are based on ludicrous assumptions that do not reflect reality...
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I love the natural way to explain the concept, i understood everything, thanks
All you talk is really useful, thank you!
how do you calculate cournot consumer surplus, firm1 surplus, firm 2 surplus?
very nice teaching sir. nice I am understanding sir
Great video Kevin, thank you for this.
Really appreciate the videos!
hmmm they are good
how do you calculate the collusive equilibrium?
Guess its the same for the Bertrand because of the symmetry right?
Thank you for your video. I have one question. In your video you say in a duopoly the output is 2/3 of the output at perfect competition. I understand that, because you show the calculation of Q = 12 and 12 is 2/3 of 18. But then you go on with three firms. Why is it 3/4 of 18 if you have three firms? I don't understand that. Thank you!
BOOOOOOOOOOOOOOOOOOOORING
Hope you found it informative. As for your comment I have always said to my students that my videos are helpful for those having difficulty getting to sleep at night and should not be listened to while driving or operating heavy machinery.
Show less
You should have way more subscribers
Thanks Doc!
why the fixed cost = zero???
Merely because it makes the comparison with the monopoly diagram easier. Students are usually more familiar with a monopoly diagram rather than reaction curves and I find it gives a neat way to observe the welfare differences between monopoly, perfect competition and Cournot oligopoly which is a non-price competition approach. Of course, it is possible to change the model to introduce fixed costs as well as differences in costs between firms in oligopoly models and I did do this when I was teaching. Anyway I hope you enjoy your studies of economics and keep asking questions like the one you did.
how did u get firm's reaction curve?
Thank you!
Hello in 7:39 why 18 is q1 and q2
very good. keep it up!
nice video but you seem tired... try to be more objective maybe
Your comment makes absolutely NO sense. Being objective means presenting facts rather than opinions. How would that make him less tired?
Also, he doesn't sound tired but rather bored. I reckon that's because he understands economic theories/models are based on ludicrous assumptions that do not reflect reality...