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D. Find the equilibrium consumer surplus and consumer surplus In this market. 3. (Bertrand Model) Consider a Bertrand duopoly. The market demand is q=160-p. Consumers

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D. Find the equilibrium consumer surplus and consumer surplus In this market. 3. (Bertrand Model) Consider a Bertrand duopoly. The market demand is q=160-p. Consumers only buy from the firm whose price is lower. If two firms charge the same price, they share the market equally. The marginal cost for firm 1 is 20, and the marginal cost for firm 2 is also 20. There are no fixed costs. A. Find each firm's best response function. B1) If F2 charges p2-15, what price pl should F1 charge? B2) If F1 charges pl=75, what price p2 should F2 charge? B3) If F2 charges p2=95, what price pl should F1 charge

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