In the Bertrand model of price competition, adding just one more firm to a market which was
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In the Bertrand model of price competition, adding just one more firm to a market which was initially monopolized drives the market to the perfectly competitive equilibrium, where both firms earn zero profits
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Managerial Economics A Strategic Approach
ISBN: 285451
2nd Edition
Authors: Robert Waschik ,Tim Fisher ,David Prentice
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