Firms A and B engage in Bertrand competition. qA = 32 − 2.5PA + 3PB qB = 32 − 2.5PB + 3PA MCA = 2 MCB = 7 Find two prices, two quantities, and two profits.
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Firms A and B engage in Bertrand competition.
qA = 32 − 2.5PA + 3PB
qB = 32 − 2.5PB + 3PA
MCA = 2
MCB = 7
Find two prices, two quantities, and two profits.
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