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5. A Bertrand duopoly produces differentiated products. The firms face demand curves: q; = (p1, p2). Each firm has a marginal cost of m. What

5. A Bertrand duopoly produces differentiated products. The firms face demand curves: q; = (p1, p2). Each firm has a marginal cost of m. What are the firm's best-response functions? Describe how to determine the Nash-Bertrand equilibrium

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