25.7 Business Application: Financing a Strategic Investment under Price Competition: In exercise 25.6, we investigated the incentives

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25.7 Business Application: Financing a Strategic Investment under Price Competition: In exercise 25.6, we investigated the incentives of firms to finance technologies that lower marginal costs. We did so in a sequential setting where firms compete by setting quantity, with the incumbent firm moving first. Can you repeat the exercise under the assumption that firms are sequentially competing on price (with firm 1 moving first)?

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