An example of a market where a Bertrand model would be plausible is the market for

Name: An example of a market where a Bertrand model would be plausible is the market for
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Question

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The market for beer is best suited for a Bertrand model as beer products are largely homogenous and price is often the deciding factor for consumers. In this market, firms will likely engage in price competition, undercutting each other to gain market share.

An Example of a Market Where a Bertrand Model Would