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

question 49

Multiple Choice

Bertrand duopolists, Firm 1 and Firm 2, face inverse market demand $P = 50 - Q$ . Both have marginal cost, $M C = \$ 20$ . The equilibrium price in the market will be

• A) $10
• B) $20
• C) $30
• D) $40

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