Duopoly with Bertrand (price) Competition
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YouTubeMatt Birch
Duopoly with Bertrand (price) Competition
In this video I solve for the equilibrium quantities, price, and profits of a Bertrand (price competition) duopoly. In the first example the firms have identical cost functions and split the market. In the second example, one firm has lower costs and dominates the market. This video is appropriate for an intermediate microeconomics course ...
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