What is the equilibrium quantity for each firm

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Reference no: EM131112212

Suppose two firms are competing in prices (Bertrand) in an industry where demand is p=200-4Q.

(a) If both firms have MC=120, what is the equilibrium quantity for each firm? Profits?

(b) Suppose one firm has MC=120 and one has MC=100. Approximately how much profit does each firm make?

Reference no: EM131112212

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