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Management Studies

This discussion will require some thought. Reread the section on Nash Equilibrium. In all of the market structures except oligopoly, firms identified the level of output at which MR = MC, produced that level of output, and charged a price dictated by demand. In Nash Equilibrium, MR and MC are not mentioned. What condition required the change in methodology? Is the firm still maximizing profit? Is the condition for an optimum allocation of resources being met?

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Operation Management, Management Studies

Category:- Operation Management
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