Suppose two identical firms competed in prices bertrand, Business Economics

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Suppose two identical firms competed in prices bertrand

Suppose two identical firms competed in prices (Bertrand competition) in a market. Both firms face a constant marginal cost MC = 25. What is the equilibrium price charged by both firms? Suppose now that both firms implemented a price match guarantee. How would this effect the equilibrium price charged to this market? Explain your answer.

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