BERTRAND GAME
\bˈɜːtɹand ɡˈe͡ɪm], \bˈɜːtɹand ɡˈeɪm], \b_ˈɜː_t_ɹ_a_n_d ɡ_ˈeɪ_m]\
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When two suppliers compete. They choose their own selling price and than meet demand. The cheaper of the two will probably have more customers. Sometimes the demand is split in half. They can now start a price war and get zero profit, split high profits,
By Henry Campbell Black
Word of the day
basidiomycota
- comprises fungi bearing the spores on basidium: Gasteromycetes (puffballs); Tiliomycetes (comprising orders Ustilaginales (smuts) and Uredinales (rusts)); Hymenomycetes (mushrooms; toadstools; agarics; bracket fungi); in some classification systems considered a division of kingdom comprises fungi bearing spores on a basidium; includes Gasteromycetes (puffballs) Tiliomycetes comprising the orders Ustilaginales (smuts) and Uredinales (rusts) Hymenomycetes (mushrooms, toadstools, agarics bracket fungi).