nadireverett6389 nadireverett6389

01-05-2024
Business

Answered

The Bertrand Paradox, applied to a duopoly in which Firm 1 has constant marginal costs of 10 and Firm 2 has constant marginal costs of 12, predicts an equilibrium price of:

A. Exactly 12
B. Slightly less than 12
C. Slightly more than 10
D. Exactly 10

Answer :

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