A new firm enters a market which is initially serviced by a Bertrand duopoly charging a price of $30. Assuming that the new firm is equally as efficient as the incumbent firms, what will the new price be should the three firms coexist after the entry?
A. Equal to $30
B. Above $30
C. Below $30
D. Unable to tell given the information provided.
Answer: A
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Which of the following statements is true about the U.S. economy?
A) Each year, many new jobs are created, but few existing jobs are destroyed, and the unemployed find jobs quickly. B) Each year few jobs are created, and therefore it takes the unemployed a long time to find a new job. C) Each year, few new jobs are created, but few existing jobs are destroyed, keeping unemployment low. D) Each year, many new jobs are created and many existing jobs are destroyed.
On average, people in low-income countries ________ than people in high-income countries
A) are subject to a lower infant mortality rate B) are exposed to fewer severe diseases C) are shorter D) have a longer life expectancy
It is illegal for a business to price discriminate when selling goods to other businesses unless Both A & B are true
a. Price discounts are cost-justified b. Discounts are offered to meet competitors' price c. Either A or B is true d.
The number of times per year, on average, that a dollar is used to purchase final goods and services is the
A. Money magnifier. B. Velocity of money. C. Business cycle. D. Multiplier.