Consider the following scenario in a duopoly with homogeneous products: Marginal cost: $21 Market demand: 972 units Competitor's price: $41 Your price: $44 Assuming your competitor maintained their price, what would be your pricing response, and how many units would you expect to sell at that new price? (Enter dollar amounts to the nearest penny and units to the nearest whole number.) Pricing response: Sales: ☐☐ units

Consider the following scenario in a duopoly with homogeneous products: Marginal cost: $21 Market demand: 972 units Competitor's price: $41 Your price: $44 Assuming your competitor maintained their price, what would be your pricing response, and how many units would you expect to sell at that new price? (Enter dollar amounts to the nearest penny and units to the nearest whole number.) Pricing response: Sales: ☐☐ units

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter10: Monopolistic Competition And Oligopoly

Section: Chapter Questions

Problem 11PAE

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