3.18 The firms in a duopoly produce differentiated products. The inverse demand for Firm 1 is p1...

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3.18 The firms in a duopoly produce differentiated products.

The inverse demand for Firm 1 is p1 = 52 -

q1 - 0.5q2. The inverse demand for Firm 2 is p2 = 40 - q2 - 0.5q1. Each firm has a marginal cost of m = 1. Solve for the Nash-Cournot equilibrium quantities. (Hint: See Solved Problem 14.2.) M

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Microeconomics With Calculus

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Authors: Jeffrey M. Perloff

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3.18 The firms in a duopoly produce differentiated products. The inverse demand for Firm 1 is p1...

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Microeconomics With Calculus

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