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In an industry with 2 firms, firm A's best response function is given by 9 4 = 60- N - 9 p. Similarly, firm B's

In an industry with 2 firms, firm A's best response function is given by 9 4 = 60- N - 9 p. Similarly, firm B's best response function is given by 9 8 =60 - 2 9 A- Both firms agree to form a cartel

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