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3. Two firms produce close substitute products. They face interdependent demand curves, q -10 -2p, + p. for firm 1, and q: -10-2p, + p

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3. Two firms produce close substitute products. They face interdependent demand curves, q -10 -2p, + p. for firm 1, and q: -10-2p, + p for firm 2 The firms have identical cost functions, c(q, ) = 4q - F and c(q; ) = 49. - F. Derive equilibrium prices and quantities under Bertrand price competition

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