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A new firm enters a market which is initially serviced by a Bertand duopoly charging a price of $20

Marketing

A new firm enters a market which is initially serviced by a Bertand duopoly charging a price of $20. What will the new market price be should the three firms co-exist after the entry?

A) $25

B) $20

C) $15

D) none of the statements associated with this question are correct.

Option 1

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