Posted by Amanda on .
The market demand in a Bertrand duopoly is P = 15 - 4Q, and the marginal costs are $3. Fixed costs are zero for both firms. Which of the following statement(s) is/are true?
a.P = $3.
b.P = $10.
c. P = $15.
d. None of the statements associated with this question are correct.
I choose A as my answer because fixed cost was zero. If I'm wrong, can you please explain to me how to solve this...