Which of the Following Characteristics Does Bertrand Competition with Differentiated

question 146

Multiple Choice

Which of the following characteristics does Bertrand competition with differentiated goods have in common with Bertrand competition with identical goods?

• A) Price equals marginal cost.
• B) Firms earn zero economic profit.
• C) Firms set prices simultaneously.
• D) Each firm's product is a perfect substitute for the other firm's product.

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