Question: Answer asap and explain Question 7 0.13 p James and Max are operating in Bertrand Competition with a current price above marginal cost. Does James

Answer asap and explain

Question 7 0.13 p James and Max are operating in Bertrand Competition with a current price above marginal cost. Does James have an incentive to undercut Max's price? Yes O No Question 8 0.25 p Which type of market would have zero deadweight loss? Monopolistic Competition Perfect Competition Imperfect Competition Efficient Competition

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