Question
This economist developed his namesake type of competition, where the market price is determined by total quantity supplied, based on firms producing spring water at zero cost. For 10 points each:
[10h] Name this economist whose model of one market type contrasts with that of Bertrand.
ANSWER: Antoine Augustin Cournot
[10m] Cournot (“COR-noh”) argued that the firms in his namesake duopoly would likely form this type of structure. These structures are unstable, as members can cheat by selling at a cheaper price.
ANSWER: price cartel
[10e] If firms in a Cournot duopoly formed certain kinds of cartels or merged, that would result in this kind of market structure characterized by only one producer.
ANSWER: monopoly [do not accept or prompt on “monopolistic competition”]
<Benjamin McAvoy-Bickford, Social Science>
Summary
| 2024 Penn Bowl Berkeley | 11/02/2024 | Y | 2 | 20.00 | 100% | 50% | 50% |
| 2024 Penn Bowl CWRU | 11/02/2024 | Y | 4 | 22.50 | 100% | 100% | 25% |
| 2024 Penn Bowl Chicago | 11/02/2024 | Y | 8 | 20.00 | 100% | 63% | 38% |
| 2024 Penn Bowl Florida | 10/26/2024 | Y | 2 | 10.00 | 100% | 0% | 0% |
| 2024 Penn Bowl Harvard | 10/26/2024 | Y | 4 | 15.00 | 100% | 25% | 25% |
| 2024 Penn Bowl Mainsite | 11/02/2024 | Y | 3 | 13.33 | 100% | 33% | 0% |
| 2024 Penn Bowl Playtest | 10/12/2024 | Y | 4 | 25.00 | 100% | 75% | 75% |
| 2024 Penn Bowl Texas | 11/02/2024 | Y | 2 | 25.00 | 100% | 100% | 50% |
| 2024 Penn Bowl UK | 10/26/2024 | Y | 5 | 18.00 | 80% | 60% | 40% |
| 2024 Penn Bowl UNC | 10/26/2024 | Y | 3 | 16.67 | 100% | 67% | 0% |
Data
| Berkeley B | Berkeley A | 0 | 10 | 10 | 20 |
| Berkeley C | Stanford | 10 | 0 | 10 | 20 |
| Carnegie Mellon | Michigan A | 10 | 10 | 10 | 30 |
| Pittsburgh | Michigan B | 0 | 10 | 10 | 20 |
| Ohio State A | Ohio State B | 0 | 10 | 10 | 20 |
| Ohio State C | Michigan State | 0 | 10 | 10 | 20 |
| WUSTL | Illinois B | 0 | 10 | 10 | 20 |
| Notre Dame A | Indiana B | 0 | 0 | 10 | 10 |
| Illinois A | Minnesota | 10 | 10 | 10 | 30 |
| Northwestern A | Indiana A | 10 | 10 | 10 | 30 |
| Notre Dame B | Chicago A | 0 | 10 | 10 | 20 |
| Notre Dame C | Chicago B | 0 | 10 | 10 | 20 |
| Purdue | Northwestern B | 10 | 0 | 10 | 20 |
| Illinois C | SIUE | 0 | 0 | 10 | 10 |
| UF C | UF A | 0 | 0 | 10 | 10 |
| UF B | UCF | 0 | 0 | 10 | 10 |
| Columbia | JHU A | 0 | 10 | 10 | 20 |
| JHU B | Maryland | 0 | 0 | 10 | 10 |
| Princeton | NYU A | 0 | 0 | 10 | 10 |
| Yale A | Harvard B | 0 | 10 | 10 | 20 |
| MIT | Harvard A | 0 | 0 | 10 | 10 |
| Tufts | Brandeis | 0 | 0 | 10 | 10 |
| BU | Yale B | 10 | 0 | 10 | 20 |
| TAMU | Houston | 10 | 10 | 10 | 30 |
| Texas A | Texas B | 0 | 10 | 10 | 20 |
| We jopping | Oh you like geography? Name every Forrest. | 10 | 10 | 10 | 30 |
| Statler and Waldorfesque Former Penn Bowl Editors | Khalil v Carbolic Shisha Ball Co | 10 | 0 | 10 | 20 |
| TOAD | Why the Kremlin Hates Bananas | 10 | 10 | 10 | 30 |
| bruh | Ill-Advised Buzz | 0 | 10 | 10 | 20 |
| Four Times I Have Despised My Soul | 3HK1MM | 0 | 0 | 10 | 10 |
| LSE | Limp Chriskit | 10 | 10 | 0 | 20 |
| Oxford School for Quizness | Sorted | 10 | 10 | 10 | 30 |
| Say it | The Crying of Team 49 | 0 | 0 | 10 | 10 |
| See it | Gressenheller A | 0 | 10 | 10 | 20 |
| UNC C | RIT A | 0 | 0 | 10 | 10 |
| UNC B | UNC A | 0 | 10 | 10 | 20 |
| Duke A | Virginia Tech A | 0 | 10 | 10 | 20 |