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Consider duopoly firms which produce homogeneous products and maximize its profits where demand function is linear and each firm has zero marginal cost. Market demand

Consider duopoly firms which produce homogeneous products and maximize its profits where demand function is linear and each firm has zero marginal cost.

Market demand is given by p=a-bq, total market output is q=q₁+q₂,

Solve outputs and profits under Bertrand

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