Question: 25.2 In exercise 25.1, we checked how the Bertrand conclusions (that flow from viewing price as the strategic variable) hold up when we change some

25.2 In exercise 25.1, we checked how the Bertrand conclusions (that flow from viewing price as the strategic variable) hold up when we change some of our assumptions about fixed and marginal costs. We now do the same for the case where we view quantity as the strategic variable in the simultaneous move Cournot model.

A. Again, maintain all the assumptions in the text unless you are asked to specifically change some of them.

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