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Suppose the market demand curve for a Bertrand duopoly is downward sloping.What happens to the Nash equilibrium price and market quantity if the constant marginal
Suppose the market demand curve for a Bertrand duopoly is downward sloping.What happens to the Nash equilibrium price and market quantity if the constant marginal cost declines?
Please give us a detail explanation!
A) Price and quantity decline
B) Price increases and quantity declines
C) Price decreases and quantity increases
D) Price and quantity increase
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