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Unformatted text preview: C. Total output and price approach the competitive market output and price. D. Total output and price approach the monopoly output and price. Quiz: Question 3: In the Bertrand model of duopoly, with identical firms competing on price, what is the different between the simultaneous-move outcome and the sequential-move outcome? [Assume no fixed cost and constant marginal cost.] A. Under simultaneous moves the price is lower than under sequential moves. B. Under simultaneous moves the price is higher than under sequential moves. C. There is no difference. Quiz:...
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- Fall '08