Problem
Commercial fishing is an industry that is often given as an example of quantity competition, as in the Cournot model. Can you think of others? Can you give examples of industries in which firms compete in prices? In which of these cases are capacity constraints important, so that the two-stage model of capacity investment and price competition might apply?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.