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Suppose Two Sweaters Compete in a Bertrand Market Structure with Differentiated

Question 50

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Suppose two sweaters compete in a Bertrand market structure with differentiated products. Demand for the first sweater is given by Suppose two sweaters compete in a Bertrand market structure with differentiated products. Demand for the first sweater is given by where p<sub>1</sub> is price for sweater 1 and p<sub>2</sub> is the price for sweater 2. Demand for the second sweater is The costs of providing the sweaters are C<sub>1</sub> = q<sub>1</sub> and C<sub>2</sub> = q<sub>2</sub> respectively. The first sweater firm will charge $____ for its sweater. A) 50.32 B) 48.13 C) 46.23 D) 44.54 where p1 is price for sweater 1 and p2 is the price for sweater 2. Demand for the second sweater is Suppose two sweaters compete in a Bertrand market structure with differentiated products. Demand for the first sweater is given by where p<sub>1</sub> is price for sweater 1 and p<sub>2</sub> is the price for sweater 2. Demand for the second sweater is The costs of providing the sweaters are C<sub>1</sub> = q<sub>1</sub> and C<sub>2</sub> = q<sub>2</sub> respectively. The first sweater firm will charge $____ for its sweater. A) 50.32 B) 48.13 C) 46.23 D) 44.54
The costs of providing the sweaters are C1 = q1 and C2 = q2 respectively. The first sweater firm will charge $____ for its sweater.


A) 50.32
B) 48.13
C) 46.23
D) 44.54

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