Bertrand Duopolists Face a Market Demand Curve Given by P

question 53

Multiple Choice

Bertrand duopolists face a market demand curve given by P = 90 - Q where Q is total market demand. Each firm can produce output at a constant marginal cost of 30 per unit. The equilibrium price and quantity for the total market will be

• A)Q = 30, P = 60.
• B)Q = 60, P = 30.
• C)Q = 40, P = 50.
• D)Q = 45, P = 45.

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