Long-Run Equilibrium in a Cournot Type Oligopoly Model with Cobb-Douglas Demand and Production
William C. Kolberg
July 11, 2009
This paper explores the character of long-run equilibrium in an oligopoly model with Cobb-Douglas production and demand. The model is a Cournot type model in that firms choose production, but the product may be differentiated as well as homogeneous in nature. The long run equilibrium explored here does not permit entry or exit, so in that sense it is considered oligopoly.
Number of Pages in PDF File: 9
Keywords: Quantity Competition, Oligopoly, Cournot, Long-Run Equilibrium
JEL Classification: D43, L13
Date posted: July 12, 2009