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The model lays on quite certain presumptions. There are somewhere around two firms creating a homogeneous (undifferentiated) item and can't collaborate in any capacity. Firms

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The model lays on quite certain presumptions. There are somewhere around two firms creating a homogeneous (undifferentiated) item and can't collaborate in any capacity. Firms contend by setting costs at the same time and shoppers need to purchase everything from a firm with a lower cost (since the item is homogeneous and there are no purchaser search costs). Assuming two firms

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