This is not a perfectly competitive market, but if it were, that's where price is going to end up.

这个案例的情况不是完全竞争市场,但是如果是,这个就是最终的价格

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So, Case and I did identical questionnaires in Los Angeles and Milwaukee and these are median price expectations.

于是科斯和我在洛杉矶和密尔沃基,做了完全相同的问卷调查,并且调查出了中间价格的期望值

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If they're not at the competitive output they could undercut price and take the entire market.

如果他们不按照完全竞争产量生产,就可以通过降低价格来抢占市场

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They would be lower than the monopoly prices, but higher than the perfect competitive prices.

它们比垄断下的价格低,但比完全竞争下的价格高

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In a perfectly competitive market that's exactly where prices are going to end up.

在完全竞争市场中,这就是最终的市场价格

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How does this quantity compare and how do therefore the prices compare, and how do profits compare with monopoly prices on the one hand, and competitive prices on the other?

第一,该产量下的价格,产出,和垄断价格,产出相比有何不同,和完全竞争价格又有什么不同呢

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Consequently, prices are going to go the other way and consequently prices are going to be highest under monopoly, lowest on the competition, and somewhere in between in this Cournot situation.

相应的,价格则呈相反趋势,垄断情况下的价格最高,完全竞争情况下的价格最低,古诺均衡时价格处于两者之间

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So even though there's only two firms here, with price competition, identical products, we end up with an outcome that looks exactly like perfect competition, except for the fact there's only two firms.

尽管这里只有两家公司,进行某种产品的价格竞争,我们得到了,和完全竞争非常相似的结果,除了只有两家公司这个事实

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In '98, I forget which way, but one of the share classes 20% was at a 20% discount to the other and that persisted for several years, so you have economically identical things trading at different prices.

在98年，我不记得是为什么，一支这种类型的股票,比另一只股票便宜,而且这种现象持续了好几年的时间，因此你拥有经济意义上完全相同,但是却以不同价格进行交易的东西。

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