Question: Consider a Bertrand oligopoly consisting of four firms that produce

Consider a Bertrand oligopoly consisting of four firms that produce an identical product at a marginal cost of $ 260. The inverse market demand for this product is P=800-4Q.
a. Determine the equilibrium level of output in the market.
b. Determine the equilibrium market price.
c. Determine the profits of each firm.




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  • CreatedApril 18, 2014
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