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Business, 12.03.2020 20:30 GrainLeaf

Onsider a Bertrand oligopoly consisting of four firms that produce an identical product at a marginal cost of $260. The inverse market demand for this product is P = 800 – 4Q. a. Determine the equilibrium level of output in the market. b. Determine the equilibrium market price. $ c. Determine the profits of each firm. $

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