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I want to know the parts e and f 5. Consider a model of Bertrand price competition in a market with differentiated products. Demand is

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I want to know the parts e and f

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5. Consider a model of Bertrand price competition in a market with differentiated products. Demand is given by the following two equations: q = a -bp, + CP2 92 = a - bp2 + cp, Each firm has a constant marginal cost of m. a. Give an example of a market that might fit these conditions. It's fine if the market includes more than two firms. b. Show that the equilibrium price for each firm will equal a + bm 2b - c c. Find the equilibrium quantity for each firm. Explain how to find the equilibrium profit for each firm. We can also write our results in terms of the inverse demand curve's parameters. a ( B - Y ) B a = b = Y C = B2 - Y 2 B2 - Y B2 - Y d. Express the equilibrium price in terms of a, B and y. e. Show that the equilibrium price decreases as the degree of product differentiation decreases. f. What happens to this price as y approaches B? Explain why

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