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Suppose that Market demand for golf balls is described by Q= 90-3p, Where Q is measured in kilos of balls. There are two firms that supply the market. Firm 1 can produce a kilo of balls at a constant unit cost of $15 whereas firm 2 have a constant unit cost equal to $10. a. suppose firms compete in quantities.

Suppose firms compete in price. How much does each firm sell in a Bertrand equilibrium. What is market price and what are firms' profits?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91697079

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