Bertrand duopolists face MWTP = 8-Q and can produce any quantity without marginal cost. If firm 1 will choose the price maximizing market profits this period, what price does firm 2 choose to maximize its profits this period? (Assume prices must be in whole cents. Remember, do not enter the $ sign.)

Bertrand duopolists face MWTP = 8-Q and can produce any quantity without marginal cost. If firm 1 will choose the price maximizing market profits this period, what price does firm 2 choose to maximize its profits this period? (Assume prices must be in whole cents. Remember, do not enter the $ sign.)

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 4SQP

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