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Show that the following formulation is NOT correct if one uses the Bertrand Model. L = H/|| Hint: L means Lerner Index, H means Herfindahl

Show that the following formulation is NOT correct if one uses the Bertrand Model. L = H/||

Hint: L means Lerner Index, H means Herfindahl Index, means price elasticity of demand. L=1/4, L=0

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