Multiple Choice
A new firm enters a market which is initially serviced by a Cournot duopoly charging a price of $20.What will the new market price be should the three firms co-exist after the entry?
A) $20.
B) below $20.
C) above $20.
D) none of the statements associated with this question are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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