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Consider a market with two horizontally differentiated firms, X and Y. Each has a constant marginal cost of $20. Demand functions are: Qx =100?2Px +1Py

Consider a market with two horizontally differentiated firms, X and Y. Each has a constant marginal cost of $20. Demand functions are: Qx =100?2Px +1Py Qy =100?2Py +1Px Calculate the Bertrand equi...

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