Business Studies, asked by leela28048, 6 months ago

The market demand for a good is Q=120−p in each of an infinite number of periods. There are two firms with zero average costs. The discount factor is 0.9.

What is the present value of the profit earned by each firm if they engage in Bertrand competition?​

Answers

Answered by SpanditaDas
1

Answer:

Cournot competition and Bertrand competition. ... In the Bertrand case, if a firm's costs increase , rivals respond ... a) Calculate the best response function for each firm (i.e. each firm's profit.

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