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

Question 49

Multiple Choice

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


A) $10
B) $20
C) $30
D) $40

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