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Satsume Satsume
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6 years ago
Is there a first-mover advantage in the Bertrand duopoly model with homogenous products?
A) Yes, first-movers always hold the advantage over other firms.
B) Yes, first-movers may have an advantage, but it depends on the model assumptions.
C) No, first-movers cannot choose a profit maximizing quantity because the second-mover can always produce a bit less and earn higher profits.
D) No, the second-mover would be able to set a slightly lower price and capture the full market share.
Textbook 
Microeconomics

Microeconomics


Edition: 8th
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6 years ago
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