Suppose two firms are competing in prices bertrand in an, Ask an Expert

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Suppose two firms are competing in prices (Bertrand) in an industry where demand is p=200-4Q.

(a) If both firms have MC=120, what is the equilibrium quantity for each firm? Profits?

(b) Suppose one firm has MC=120 and one has MC=100. Approximately how much profit does each firm make?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91869806

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