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The demand for y is given by y = 256/p2. Only two firms produce y. They have identical costs c(y) = y2. If they agree
The demand for y is given by y = 256/p2. Only two firms produce y. They have identical costs c(y) = y2. If they agree to collude and maximize their joint profits, how much output will each firm produce? a. 2 b. 5 c. 10 d. 12 e. 16
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