Business, 26.08.2019 16:30 reginapokorny

Will the price be lower if duopoly firms set price or if they set quantity? under what conditions can you give a definitive answer to this question? a. if duopoly firms produce an identical good, then price will be lower if they set price; if the goods are heterogeneous, then the answer is indeterminate. b. price will always be lower if duopoly firms set quantity. c. if duopoly firms produce an identical good, then price will be lower if they set quantity; if the goods are heterogenous, then price will be lower if they set price. d. price will always be the same regardless of whether duopoly firms set price or quantity. e. if duopoly firms produce a heterogeneous good, then price will be lower if they set quantity; if the goods are identical, then price will always be the same regardless of whether duopoly firms set price or quantity.

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Will the price be lower if duopoly firms set price or if they set quantity? under what conditions c...