Find the bertrand equilibrium

Assignment Help Microeconomics

Reference no: EM13691163

Suppose that 2 firms both have average variable cost $50. Market demand is given by Q=100-P. Find the Bertrand Equilibrium. Would your answer change if there were three firms?

Reference no: EM13691163

Questions Cloud

Draw the indifference curve for this utility function : The following utility function is equal to the maximum of the amount of good x or four time the amount of good y: Draw the indifference curve for this utility function.

Stimulus package to produce the kind of gdp bump : In addition to the failure of the $830 billion "stimulus package" to produce the kind of "GDP bump" promised by proponents of the program, it also failed to deliver on the claim that it would ensure that the US unemployment rate would not reach 8%, a..

Profit maximising perfectly competitive firm : Examine the following statement to see whether it is true or false. If it is true, explain why it is true. If it is false, explain why it is false and then write the statement correctly.

Explain why the marginal revenue of a monopolist : Explain why the marginal revenue of a monopolist is below her demand curve. Please also indicate on the diagram below where the price elasticity of demand is elastic, unitary elastic and inelastic. Briefly explain why this is the case

Find the bertrand equilibrium : Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..

Find the symmetric nash equilibrium : Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..

Sudden unexpected growth in aggregate demand : Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..

User Account

All Pages