Two firms compete in a market to sell a homogeneous pr
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Two firms compete in a market to sell a homogeneous product with inverse demand function P = 400 -2Q. Each firm produc
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Two firms compete in a market to sell a homogeneous product with inverse demand function P = 400 -2Q. Each firm produces at a constant marginal cost of $50 and has no fixed cost. Use this information to compare the output levels and profits in settings characterized by Cournot, Stackelberg, Bertrand, and collusive behavior.
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