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corie corie
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7 years ago
Suppose two firms with differentiated products are competing on price.  The reaction curve for Firm 1 is P1 = 4 + 0.5 P2, and the reaction curve for Firm 2 is P2 = 4 + 0.5P1.  What is the equilibrium price outcome in this market?
A) P1 = P2 = 4
B) P1 = P2 = 6
C) P1 = P2 = 8
D) P1 = 6 and P2 = 8
Textbook 
Microeconomics

Microeconomics


Edition: 8th
Author:
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Bart_argBart_arg
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7 years ago
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corie Author
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7 years ago
this is exactly what I needed
shimyshiguy
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Yesterday
Thanks for your help!!
Alina01978
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2 hours ago
Smart ... Thanks!
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