3 Market demand is given by 100 Q, P(Q) if Q 100 otherwise Suppose there are two firms both with constant marginal cost 50 and no fixed cost and capacity constraint Assume that firms produce identical products and compete in price (Firms split the market evenly if they charge the same price ) The ...

To determine the best response of firm 2 when firm 1 sets a price of 80 we need to analyze the Bertr ...

3. Market demand is given by: 100-Q, P(Q) = if Q ...

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Microeconomics Theory and Applications

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3. Market demand is given by: 100-Q, P(Q) = if Q ...

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