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Consider price competition with differentiated products. Firm 1 has a demand given by D 1 =1-2p 1+ p 2 . Firm 2 has a demand

Consider price competition with differentiated products. Firm 1 has a demand given by D1=1-2p1+p2. Firm 2 has a demand of D2=1-2p2+p1. Both firms have a total cost function of TC(q)=q.

Give the equilibrium price for firm 2.

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