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Business, 12.06.2020 16:57 krazziekidd2p845ri

Solve for the Bertrand equilibrium for the firms described below if Firm 1's marginal cost is $15 per unit and Firm 2's marginal cost is $25 per unit. Firm 1 faces a demand function of q 1equals110minus2p 1plus1p 2, where q 1 is Firm 1's output, p 1 is Firm 1's price, and p 2 is Firm 2's price. Similarly, the demand Firm 2 faces is q 2equals110minus2p 2plus1p 1. Solve for the Bertrand equilibrium. In equilibrium, p 1 equals 2 and p 2 equals 2. (Enter numeric responses using integers.)

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Solve for the Bertrand equilibrium for the firms described below if Firm 1's marginal cost is $15 pe...
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