Assume that in a duopolistic market, the following exists.                i. P = 210 – Q               ii. Each firm, has a MC of $50 per unit.      Determine the prices and quantity that will be set in the market. Show all working and draw graph

Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter10: Monopolistic Competition And Oligoply
Section: Chapter Questions
Problem 6SQP
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Assume that in a duopolistic market, the following exists.

               i. P = 210 – Q

              ii. Each firm, has a MC of $50 per unit.

     Determine the prices and quantity that will be set in the market.

Show all working and draw graph

 

 

 

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