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Consider two firms that are the sole producers of mineral water in a market. Suppose the market demand is given by Q = 24 -

Consider two firms that are the sole producers of mineral water in a market. Suppose the market demand is given by Q = 24 - p, and each firm can produce mineral water from its own spring at zero marginal and average cost.

d. Find the Bertrand equilibrium quantity for each firm. (8 points)

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