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Consider a version of the Cournot doupoly game (described in earlier exer- cises), where firms 1 and 2 simultaneously and independently select quanti- ties to

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Consider a version of the Cournot doupoly game (described in earlier exer- cises), where firms 1 and 2 simultaneously and independently select quanti- ties to produce in a market. The quantity selected by firm i is denoted q; and must be greater than or equal to zero, for i = 1, 2. The market price is given by p = 100 - 291 - 292. Suppose that each firm produces at a cost of 20 per unit. Further, assume that each firm's payoff is defined as its profit. Is it ever a best response for player 1 to choose q1 = 25? Suppose that player 1 has the belief that player 2 is equally likely to select each of the quantities 6, 11, and 13. What is player 1's best response

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