A new firm enters a market which is initially serviced by a Bertrand duopoly charging a price of $20.What will the new price be should the three firms coexist after the entry?
A) $25
B) $20
C) $15
D) None of the preceding answers is correct.

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The Answer of A new firm enters a market which is initially serviced by a Bertrand duopoly charging a price of $20.What will the new price be should the three firms coexist after the entry?
A) $25
B) $20
C) $15
D) None of the preceding answers is correct.

A New Firm Enters a Market Which Is Initially Serviced