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3. Suppose you have the following information on the possible profits for two firms that supply one market. Firm 2 Q-150 Q=112 |Q=225 34, 22

3. Suppose you have the following information on the possible profits for two firms that supply one market. Firm 2 Q-150 Q=112 |Q=225 34, 22 51, 25 Firm 1 Q=150 45.45 49.42 What would you predict in this market? That is, what might each firm do? Why? (Keep in mind that the first number in each pair is the payoff for Firm 1, and the second number in each pair is the payoff for Firm 2) (20 points)
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3. Suppose you have the following information on the possible profits for two firms that supply one market. Firm Q=150 2 Q=112 What would you predict in this market? That is, what might each firm do? Why? (Keep in mind that the first number in each pair is the pay off for Firm 1, and the second number in each pair is the payoff for Firm 2) (20 points)

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