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Suppose Wilson Mountaineering earned $12 million as a monopolist but, after entry of a competitor, earns $7 million as a duopolist. If Wilson lowers its

Suppose Wilson Mountaineering earned $12 million as a monopolist but, after entry of a competitor, earns $7 million as a duopolist. If Wilson lowers its price for a year, it will drive out its rival, but will lose $40 million. At an interest rate of 8%, the present value of duopoly profi

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