2 Bertrand Now suppose that instead of competing on quantities, the two departments are competing by setting prices following the Bertrand Oligopoly Model. Marginal cost remains the same and total market demand for economics degrees is 720. 2.1 What is the Nash-Bertrand equilibrium for this market? Now suppose that the two departments enter the market for online degrees with differentiated products. The marginal cost of each degree drops to $200 for each department. Suppose econ faces a demand function of q = 10000 - 200p + 100pme. Suppose man. econ faces a demand function of 9me = 10000 - 200pme + 100pc. 2.2 What is the Nash-Bertrand equilibrium now