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Suppose in a duopoly market there are two firms, 1 and 2, each with a cost function given as TC1 = 10Q1 and TC2 =
Suppose in a duopoly market there are two firms, 1 and 2, each with a cost function
given as TC1 = 10Q1 and TC2 = 10Q2. The inverse demand in the market is P = 100 - 2(Q1 + Q2).
The firms are homogeneous product duopoly.
suppose each firm colludes in its price and output decision. Calculate each firm's profit
maximizing output, price and profit?
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