One criticism of the Bertrand pricing model is that

A) the model is implausible when there is product differentiation.
B) when there is an oligopoly with no product differentiation, the model's prediction is inconsistent with reality.
C) the model's predicted price is solely a function of demand conditions.
D) the model's predicted price is dependent on the number of firms.

B

Economics

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Indicate whether the statement is true or false

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In a closed economy ________

A) investment equals consumption B) investment equals savings C) saving equals consumption D) exports are greater than imports

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