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Homework answers / question archive / The market demand in a Bertrand duopoly is P = 15 - 4Q and the marginal costs are $3

The market demand in a Bertrand duopoly is P = 15 - 4Q and the marginal costs are $3

Marketing

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 statements associated with this question are correct.

Option 1

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