ladylee1406 ladylee1406
  • 06-06-2023
  • Business
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Two firms set prices simultaneously. Consumers buy from the firm with the lowest price and split their demand equally across the two firms if prices are equal. Market demand is q=10−p,MC=2. Sellers can only set the following prices: 3,4,5. - 1. Write down the normal form game. - 2. Solve for the equilibrium of the game.

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