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Business, 11.02.2021 17:50 ronnie7898

Consider the following variation of the Bertrand competition model (e. g., price competition) discussed in class. Two firms, 1 and 2, are producing the same identical product. Firms compete in prices: Firm 1 chooses p1, and Firm 2 chooses p2. Given p1 and p2, the individual demands of firms are:

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