Types and Strategies of Game Theory

Types of Game Theory Cooperative Game :  It is an economic game played by firms in which players or firms can negotiate on binding contracts which allows them  to make mixed or joint strategies. Example: Ahmed and Ali are buyer and seller respectively and they are...

Game Theory Introduction

To understand the game theory , one must be familiar with the exact definition of word “Game” . The word game means “ Any physical or mental activity that humans do for the sake of pleasure or simply the competition between two players”. So,...

Sources of Monopoly Power

We all know that pure monopoly is very rare in today rapidly growing and progressing businesses. Every now and than we have competitors around us so we barely see such companies who can rule the whole market without having any barriers or alternative.  Yet there are...

The effect of Shifts in Demand in Monopoly

A Monopolistic market has no Supply curve The reason behind it the NO SUPPLY CURVE is that the monopolist output decision depends not only on Marginal cost but also on the Shape of Demand Curve. Note that the shape of demand curve do not tell us Price and Quantity...