15. value: 5.00 points The market demand curve for a pair of duopolists is given as...

Question:

15. value: 5.00 points The market demand curve for a pair of duopolists is given as P=100- Q where Q= Q4 + Q2. The constant per unit marginal cost is 0 for firm 1 and c for firm 2 where c is some number. Find the equilibrium price, quantity and profit for each firm in the Bertrand model as a function of c a. Equilibrium price equals P=0. Equilibrium quantity is Q4=Q2=10 with both earning (4=N2=0 Answer: (Click to select) b. Firm 2 produces zero Q=0 and earns M = 0. Firm 1 charges P=c and produces Q1=100-c earning 14=100 c-c2 Answe v (Click to select) C=0 c>0

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