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Two firms control the entire market for gasoline. They both have identical marginal costs of $1/gallon. The inverse demand for a gallon of gasoline is given by P(G)=10-1.5G. If they decide to collude and split the profits equally, what will each firm's profit be.

Econometrics, Economics

  • Category:- Econometrics
  • Reference No.:- M9685152

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