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I need help with this question.... Price competition and collusion Two firms compete in prices in a market for a homogeneous product. In this market

I need help with this question....

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Price competition and collusion Two firms compete in prices in a market for a homogeneous product. In this market there are N > 0 consumers; each buys one unit if the price of the product does not exceed $1000, and nothing otherwise. Consumers buy from the firm selling at a lower price. In case both firms charge the same price, assume that N/2 consumers buy from each firm. Assume zero production cost for both firms (no fixed and no variable costs) 1. Find the Bertrand equilibrium prices for a one-shot game, assuming that the firms choose their prices simultaneously. 2. Now suppose that the game is repeated infinitely. Let o denote the discount factor where 0 c2 = 25, the market is split evenly. If 0 = c1

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