MR= d(TR)/dq not d(TR)/dp so plz clear my doubt whether ur method is correct this time bcz in such case we have learn to take out best response function using profit function
We use dR/dp because we are given the direct demand function, and not the inverse demand function. If we us dR/dq in the problem above, we won't get anything since there will be nothing in terms of q (since everything is in terms of p). Note that we are solving for the price response function, not the output response function since we are looking at a Bertrand Oligopoly case.
MR= d(TR)/dq not d(TR)/dp so plz clear my doubt whether ur method is correct this time bcz in such case we have learn to take out best response function using profit function
We use dR/dp because we are given the direct demand function, and not the inverse demand function. If we us dR/dq in the problem above, we won't get anything since there will be nothing in terms of q (since everything is in terms of p). Note that we are solving for the price response function, not the output response function since we are looking at a Bertrand Oligopoly case.