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2. [2 points] Which of the following is FALSE? (a) Firms competing in a one-shot (standard) Bertrand duopoly will set price above marginal cost (p

2. [2 points] Which of the following is FALSE? (a) Firms competing in a one-shot (standard) Bertrand duopoly will set price above marginal cost (p > MC). (b) Firms competing in a one-shot Bertrand duopoly can sustain collusive pricing if they can offer price-matching guarantees. (c) Firms competing in an infinitely repeated Bertrand duopoly can sustain col- lusive pricing by using a trigger strategy. (d) More than one of the above

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