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Let's assume the following oligopoly. The demand function is p = 100 2(x + y), with x and y being the quantities for each firm.
Let's assume the following oligopoly. The demand function is p = 100 2(x + y), with x and y being the
quantities for each firm. The cost function for the firms are C(x) = 4x, C(y) = 4y.
103.1. Please calculate the reaction function and plot them for the two firms.
103.2. Please establish the equilibrium price, quantity and firm's profit
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