Assuming a homogeneous product,the Bertrand duopoly equilibrium price is

Name: Assuming a homogeneous product,the Bertrand duopoly equilibrium price is
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In a Bertrand duopoly, firms compete on price, leading to a price equal to marginal cost if products are homogeneous and marginal costs are constant. This results in a lower equilibrium price than in the Cournot model, where firms compete on quantities, which typically results in a higher price than marginal cost.

Assuming a Homogeneous Product,the Bertrand Duopoly Equilibrium Price Is