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

Question 53

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 industry profits this market will be


A) 0
B) 10
C) 50
D) 90

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