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(Solved): Consider a Bertrand oligopoly that has two firms, each charging a price of $20. A third firm enters ...



Consider a Bertrand oligopoly that has two firms, each charging a price of $20. A third firm enters the market and has the same cost structure as the first two firms. What will be the new market price assuming the three firms coexist after the entry? Group of answer choices $20. Below $20. $30. $40. None of these answers are correct.



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