Assume there is a duopoly with the following demand


Assume there is a duopoly with the following demand equations Q1=30-P1+P2 and Q2=30-P2+P1. Marginal cost are given as MC1=6, MC2=0. Calculate the Bertrand solution. What are the reaction curves?

What is price, quantity and revenue for each firm.

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Business Economics: Assume there is a duopoly with the following demand
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