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Suppose that the market for xylose is supplied by two firms, A and B, each with long-run total cost function equal to , where represents
Suppose that the market for xylose is supplied by two firms, A and B, each with long-run total cost function equal to , where represents the output of firm . If the inverse market demand curve is given by , where , find and graph the Nash equilibrium quantity exchanged, price, consumer and producer surplus, and compare these to their competitive equilibrium levels
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