B. * Consider again the demand function x1p2 5 100 2 0.1p and the cost function c1x2
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B. * Consider again the demand function x1p2 5 100 2 0.1p and the cost function c1x2 5 FC 1 5x 2
(as you did in exercise 25.1 and implicitly in the latter portion of exercise 25.2).
a. Suppose first that FC 5 0. Derive firm 2’s best response function to observing firm 1’s output level x1
.
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