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Cournot Model
A economic model describing an industry structure in which companies compete on the quantity of output they decide to produce, assuming their rivals' decisions are fixed.
Bertrand Model
An economic model of competition among firms, where firms choose prices rather than quantities to compete.
Collude
The act of cooperating or conspiring, especially between competitors, to achieve a mutual benefit such as setting prices.
Bertrand Duopoly
An economic model describing interactions between two companies that compete by setting prices rather than the quantity of output.
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