Competing in prices (bertrand) in an industry

Reference no: EM13726651

Suppose two rms are competing in prices (Bertrand) in an industry
where demand is p=200-4Q.
(a) If both rms have MC=120, what is the equilibrium quantity for each rm? Prots?
(b) Suppose one rm has MC=120 and one has MC=100. Approximately how much prot does each rm make?
(c) Suppose one rm has MC=150 and one has MC=0. Approximately how much prot does each rm make?

Reference no: EM13726651

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