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need some help with this one practice problem its been stumping me for a while 20. There are two firms selling smartphones (oligopoly market). Firm

need some help with this one practice problem its been stumping me for a while

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20. There are two firms selling smartphones (oligopoly market). Firm A and Firm B. Each can set their price high or low. a. If each firm was acting independently, what strategy would each firm take? b. How much would each firm make given their independent strategies? c. If the two firms colluded, what strategy would each firm take? d. How much would each firm make given that the firms collude? A Price High A Price Low $57 mil $59 mil B Price High $60 mil $55 mil $50 mil $55 mil B Price Low $69 mil $58 mil

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