Question
In which of the following models, price  is driven
down to marginal cost?Solution
Interesting fact about Bertrand model is that it’s the same outcome that would have occurred if they were in a perfectly competitive market because competition would have driven prices down to marginal cost. So, in a situation where competition is based on price and the good is relatively homogeneous, as few as two firms can drive the market to an efficient outcome.
Renowned personality Sulochna Latkar has recently passed away.To which profession did he belong to?
Who inaugurated India’s first tempered glass manufacturing plant, and where is it located?
Consider the following statements about Cyber Surakshit Bharat Initiative:
1. It is an initiative of the Ministry of Electronics and Information ...
What is the theme of International Day for the Elimination of Violence against Women 2021?
Which key agenda was highlighted at the 2024 Chief Science Advisers' Roundtable (CSAR) held in Paris?
Who will be receiving the Satyajit Ray Lifetime Achievement Award at the closing ceremony of the 54th International Film Festival of India (IFFI)?
India signed a $750 million currency swap agreement with which country to help manage its foreign currency crunch?
The 17th instalment of the PM Kisan Nidhi scheme will benefit how many crore farmers?
Who has become the first Indian lawyer to receive the ‘Medal of Honour’ from the World Jurist Association (WJA)?
What is the target for female representation in technical maritime roles by 2030 under the 'Sagar Mein Samman' initiative?
