Coloma, Germán - In: Estudios de Economía 37 (2010) 2, pp. 189-205
variable returns to scale. If the optimum number of active firms in the market is two or more, and the number of active firms … is equal to that optimum number, then Bertrand equilibrium exists for that optimum number, and it does not exist if the … number of active firms is less than the optimum. The model, however, does not rule out the existence of Bertrand equilibria …