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There are two Barber Shops in a town, Hugo's and Hopen's, that are Bertrand competitors. Total weekly demand for haircuts in the town is Q
There are two Barber Shops in a town, Hugo's and Hopen's, that are Bertrand competitors. Total weekly demand for haircuts in the town is Q = 120 p. Currently the going price for the haircut is $30 and sadly, Hopen's is always empty. Hugo, the owner of Hugo's is extremely happy with his business, making profits of $1,000 a week in haircuts
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Business Law The Ethical Global and E-Commerce Environment
Authors: Jane Mallor, James Barnes, Thomas Bowers, Arlen Langvardt
15th edition
978-0071317658
