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4. Repeated Bertrand Duopoly Recall the static Bertrand duopoly model: two firms produce homogeneous products and choose their prices simultaneously. Demand for firm i's product

image text in transcribed 4. Repeated Bertrand Duopoly Recall the static Bertrand duopoly model: two firms produce homogeneous products and choose their prices simultaneously. Demand for firm i's product is a - p; if pi p;, and is (a - pi)/2 if pi = Pj. Marginal costs for both firms are c

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