Question: In the Camerer and Lovallo experiment, let N=10 and c=2. Specify the number of entrants that maximizes industry profit. What will this industry profit be?

In the Camerer and Lovallo experiment, let N=10 and c=2. Specify the number of entrants that maximizes industry profit. What will this industry profit be? Specify the number of entrants that minimizes industry profits. What will this industry profit be? What number of entrants leads to zero industry profits?

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