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The Difference Between Bertrand and Cournot Models Is That

Question 16

Multiple Choice

The difference between Bertrand and Cournot models is that:


A) quantity per firm increases and price decreases with the number of firms.
B) they apply to all possible market structures.
C) the monopoly and perfect competition models are special cases.
D) quantity per firm and price are constant for all markets with two or more firms.

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