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Suppose market demand is P d = 477 - 16 * Q. There are two oligopolistically competing firms, i=1,2, each producing the output q i
Suppose market demand is Pd = 477 - 16 * Q. There are two oligopolistically competing firms, i=1,2, each producing the output qi. Each firm's total cost of production is: TC(qi) = 10 + 21 * qi. How much output each firm will produce?
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