The Market Demand in a Bertrand Duopoly Is P =

question 24

Multiple Choice

The market demand in a Bertrand duopoly is P = 10 - 3Q, and the marginal costs are $1.Fixed costs are zero for both firms.Which of the following statement(s) is/are true?

• A)P = $1.
• B)profits of Firm One = profits of Firm Two.
• C)producer's surplus of Firm One = producer's surplus of Firm Two.
• D)all of the statements associated with this question are correct.

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Definitions:

Secure

To make something safe from threats or to ensure its safety.

Independent Clauses

Sentences or clause types that can stand alone as a complete thought because they have both a subject and a predicate.

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