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Rationality of Choices Made by a Group of Producers by Exogenously Determined Function of Demand for a Product

In: Microeconomics

Author

Listed:
  • Krzysztof Malaga

    (Poznań University of Economics and Business)

  • Karolina Sobczak

    (Poznań University of Economics and Business)

Abstract

This chapter deals with the analysis of rational decisions made by producers when there is an exogenous function of consumers’ demand given. The chapter draws attention to the description of how a producer determines a price of a product—if is taken as given by a market or set by a producer. The analysis presented in the chapter shows how a level of price depends on values of parameters of the demand function and the cost production function and when discriminatory pricingDiscriminatory pricing can be practised. The essential part of the chapter is devoted to the description of quantityCompetitionquantity and price competitionCompetitionprice by means of various duopolyDuopoly models that each one is presented in the static as well as in the dynamic approach.

Suggested Citation

  • Krzysztof Malaga & Karolina Sobczak, 2022. "Rationality of Choices Made by a Group of Producers by Exogenously Determined Function of Demand for a Product," Springer Texts in Business and Economics, in: Microeconomics, chapter 0, pages 289-416, Springer.
    • Handle: RePEc:spr:sptchp:978-3-031-10554-8_5
    DOI: 10.1007/978-3-031-10554-8_5
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