Question
In one market, the inverse demand is P = 100 - 1/4Q and the marginal cost for all firms is MC = 20. Use these
In one market, the inverse demand is P = 100 - 1/4Q and the marginal cost for all firms is MC = 20. Use these equations for answer the following question. Show all computations.
1.The firms compete in a Bertrand oligopoly.
a.What will be the market price?
Answer:
b.What is the quantity supplied to the market?
Answer:
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Essentials Of Business Law And The Legal Environment
Authors: Richard A Mann, Barry S Roberts
10th Edition
0324593562, 9780324593563
