Question: Can anyone help check my first answer and explain how to solve the other three questions? --------- The demand for widgets is given by the
Can anyone help check my first answer and explain how to solve the other three questions?
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The demand for widgets is given by the inverse demand function p=600-8y.Suppose there are two identical firms in the market for widgets.For simplicity, we will assume that each firm has zero cost.
a.) What is firm 1 reaction function R1(y2)?

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