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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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