Which of the following characteristics does Bertrand competition with differentiated goods have in common with Bertrand competition with identical goods?

Question

Quizplus · Accepted Answer

In both Bertrand competition with differentiated goods and Bertrand competition with identical goods, firms set their prices simultaneously. This is a fundamental aspect of Bertrand competition, distinguishing it from other types of market structures where firms may not make pricing decisions at the same time.

Which of the Following Characteristics Does Bertrand Competition with Differentiated