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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

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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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