Question

From the point-of-view of the consumer, bertrand oligopoly is ________ since it leads to an outcome similar to

Answer 1

From the point of view of the consumer, Bertrand oligopoly is undesirable since it leads to an outcome similar to zero.

An oligopoly is a market where there are a small number of firms who realize they are interdependent in their pricing and output policies. In this market, the number of firms are small enough to give each firm some market power.

Bertrand model of oligopoly is a model of competition in which two or more firms produce a homogenous good and compete in prices. However, this competition in prices where the goods are perfect substitutes, ends with the firms selling their goods at marginal costs and thus making zero profits out of it.

Hence, from the point of view of the consumer, Bertrand oligopoly is undesirable.

To learn more about Bertrand oligopoly here:

brainly.com/question/14093864

#SPJ4