The market demand in a Bertrand duopoly is P = 10 − 3Q,and the marginal costs are $1.Fixed costs are zero for both firms.Which of the following statement(s)is/are true?
A) P = $1.
B) Profits of firm 1 = profits of firm 2.
C) Producer's surplus of firm 1 = producer's surplus of firm 2.
D) All of the statements associated with this question are correct.

Question

Quizplus · Accepted Answer

The Answer of The market demand in a Bertrand duopoly is P = 10 − 3Q,and the marginal costs are $1.Fixed costs are zero for both firms.Which of the following statement(s)is/are true?
A) P = $1.
B) Profits of firm 1 = profits of firm 2.
C) Producer's surplus of firm 1 = producer's surplus of firm 2.
D) All of the statements associated with this question are correct.

The Market Demand in a Bertrand Duopoly Is P =