B. Suppose that demand is given by x1p2 5 100 2 0.1p and firm costs are given

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B. Suppose that demand is given by x1p2 5 100 2 0.1p and firm costs are given by c1x2 5 FC 1 5x 2

a. Assume that FC 5 11,985. Derive the equilibrium output x B

and price p B

in this industry under Bertrand competition.

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Microeconomics An Intuitive Approach With Calculus

ISBN: 9781337335652,9781337027632

2nd Edition

Authors: Thomas Nechyba

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Question Posted: Nov 06, 2024 06:01 AM

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B. Suppose that demand is given by x1p2 5 100 2 0.1p and firm costs are given

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Microeconomics An Intuitive Approach With Calculus

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