Multiple Choice
The market demand in a Bertrand duopoly is P = 15 - 4Q, and the marginal costs are $3. Fixed costs are zero for both firms. Which of the following statement(s) is/are true?
A) P = $3
B) P = $10
C) P = $15
D) None of the answers is correct.
Correct Answer:
Verified
Correct Answer:
Verified
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