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If Firm 1 chooses the price p1, what should Firm 2 choose? Consider a Bertrand model with two firms, 1 and 2. They produce identical

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If Firm 1 chooses the price p1, what should Firm 2 choose?

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Consider a Bertrand model with two firms, 1 and 2. They produce identical goods in the same market with demand function P - 65 - 2Q, where Q - 91 - 92. Furthermore, both of them have MC = 5, i.e. TC; = 5q; for 2 = 1, 2. Please answer question 22 - 25

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