Multiple Choice
Which of the following is true in markets with horizontally differentiated products?
A) Bertrand competitors will generally earn zero profits in equilibrium.
B) Firms always act as monopolists when products are horizontally differentiated.
C) IEPR does not apply to markets with horizontal product differentiation.
D) Bertrand competitors will generally earn positive profits in equilibrium.
Correct Answer:
Verified
Correct Answer:
Verified
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