The Market Inverse Demand Curve for Thrust Bearings Is P

question 27

Multiple Choice

The market inverse demand curve for thrust bearings is P = 15 - 1.5Q, where Q is measured in hundreds of bearings per day and P is the price per bearing. The marginal cost is $3. Suppose two firms, which are Bertrand competitors, produce identical thrust bearings for this market. If this market were perfectly competitive, the market quantity would be ____.

• A) 900
• B) 800
• C) 700
• D) 600

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