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In a Bertrand duopoly with product differentiation,explain how a change in one firm's marginal cost can have an effect on the price charged by the other firm.
Functionality
Describes the range of operations that can be performed by a product, system, or service, especially according to its designed specifications.
Product Line
A group of related products under a single brand sold by the same company.
Product Mix
The combination of all the products a company sells.
Marketing Mix
A framework used by marketers consisting of the four Ps: Product, Price, Place, and Promotion.
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