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Assume two firms, A and B, serve a market with demand D(p) = 100 - p.  Assume that (i) they have identical cost functions, c(Q) = 5Q, (ii) they compete for market share via quantity competition, and (iii) firm A supplies to the market before B does.  Describe this as a game between the two firms (i.e. Specify the players, the strategies, and the payoffs they receive as a function of their respected strategies).

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M9167090

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