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n/Student/PlayerTest.aspx?testld=256221484¢erwin=yes cutive - 80313 - ECON 7100 - M50 vamsi Krishna dachepalli Question 3 of 9 This test: 100 point(s) possible This question: 8 point(s)

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n/Student/PlayerTest.aspx?testld=256221484¢erwin=yes cutive - 80313 - ECON 7100 - M50 vamsi Krishna dachepalli Question 3 of 9 This test: 100 point(s) possible This question: 8 point(s) possible Suppose that identical duopoly firms have constant marginal costs of $10 per unit. Firm 1 faces a demand function of q1 = 130-2p, + 1p2. where q, is Firm 1's output, p, is Firm 1's price, and p, is Firm 2's price. Similarly, the demand Firm 2 faces is 92 = 130 - 2p2 + 1p1 . Solve for the Bertrand equilibrium. In equilibrium, p, equals $ and p2 equals $ . (Enter numeric responses using integers.) At these prices, q1 equals and q2 equals

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