Bertrand Duopolists, Firm 1 and Firm 2, Face Inverse Market $P = 50 - Q$

question 43

Multiple Choice

Bertrand duopolists, Firm 1 and Firm 2, face inverse market demand $P = 50 - Q$ and both have marginal cost, $M C = \$ 20$ . The equilibrium industry profits this market will be:

• A) 0
• B) 10
• C) 50
• D) 90

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