Limits in the Labor Supply Market and Cournot Competition (Report)
Indian Journal of Economics and Business 2005, Dec, 4, 2
Indian Journal of Economics and Business
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Abstract This paper examines the equilibrium outcomes of a two-stage quantity-setting duopoly model with limits in the labor supply market, and shows that if the amount of labor supply in the labor market is insufficient, then in equilibrium both firms may earn higher profits than in the Cournot game without the limits. To this end, we introduce two real-world examples of labor shortages.
- Category: Business & Personal Finance
- Published: 01 December 2005
- Publisher: Indian Journal of Economics and Business
- Seller: The Gale Group, Inc.
- Print Length: 15 Pages
- Language: English