f. Suppose both firms are still in business at the beginning of period (t L 2 1)
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f. Suppose both firms are still in business at the beginning of period (t L 2 1) (before exit decisions are made). Under what condition will both firms stay? What has to be true for one of them to exit, and if one of them exits, which one will it be?
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Related Book For
Microeconomics An Intuitive Approach With Calculus
ISBN: 9781337335652,9781337027632
2nd Edition
Authors: Thomas Nechyba
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