The market demand in a Bertrand duopoly is P = 15 - 4Q, and the marginal costs are $3. Fixed costs are zero for both firms. Which of the following statement(s) is/are true?
a.P = $3.
b.P = $10.
c.P = $15.
d.None of the statements associated with this question are correct.
1 answer
hjvuk
6 answers