According to the Bertrand model,price and output is higher under oligopoly than under competition.

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According to the Bertrand model, in an oligopoly, firms compete on price, leading to price competition and lower prices. This is in contrast to the outcome in a monopoly, where the single seller would set a higher price than the competitive level. Therefore, output and price are generally lower under oligopoly than under competition.

According to the Bertrand Model,price and Output Is Higher Under