Question: Please help with (a) and (b) 2. Suppose two rms are competing in prices (Bertrand) in an industry where demand is P:360-12Q. Assume neither rm

Please help with (a) and (b)

2. Suppose two rms are competing in prices (Bertrand) in an industry where demand is P:360-12Q. Assume neither rm faces any xed costs. (a) If both rms have MC=150, what is the equilibrium price? Prots? (b) Suppose Firm 1 has M01 = 240 and Firm 2 has M 02 = 0. Approximately how much prot does each rm make? (c) Suppose Firm 1 has M01 = 204 and Firm 2 has M 02 = 96. Approximately how much prot does each rm make

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Do not take criticism personally, even if it is meant to be personal.

2. To understand that as a general rule it takes about 3 minutes before the other part(s) have made up a 90% impression of you.

3. To understand that the first impression means a lot, and it takes a lot of energy to change this first impression.