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Economics

Assume two firms, A and B, serve a market with demand D(p) = 11 - p. Also assume that (i) firms compete for market share (quantity competition) and (ii) firm A has cost function CA(Q) = Q and firm B has cost function CB(Q) = Q. Describe this environment as a game. (i.e. Specify the players, the strategies available to players, and the payoffs they receive as a function of their strategies).

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9167084

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