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Firm X and Firm Z are Bertrand duopolists facing demand MWTP(Q) = 40 Q/2 . Each incurs and marginal cost of production MC = $10.

Firm X and Firm Z are Bertrand duopolists facing demand

MWTP(Q) = 40 Q/2 . Each incurs and marginal cost of production

MC = $10. TFU: Having one firm announce its price before the other

will help the firms avoid the Bertrand paradox.

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