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Bertrand Duopolists, Firm 1 and Firm 2, Face Inverse Market P=50−QP = 50 - Q

Question 43

Multiple Choice

Bertrand duopolists, Firm 1 and Firm 2, face inverse market demand P=50−QP = 50 - Q and both have marginal cost, MC=$20M C = \$ 20 . The equilibrium output this market will be


A) 15
B) 20
C) 30
D) 40

Correct Answer:

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