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Home / Questions / . Consider a “punishment” variation of the two-firm oligopoly situation shown in Figure 13

. Consider a “punishment” variation of the two-firm oligopoly situation shown in Figure 13

. Consider a “punishment” variation of the two-firm oligopoly situation shown in Figure 13.3 in the chapter. Suppose that if one firm sets a low price while the other sets a high price, then the firm setting the high price can fine the firm setting the low price. Suppose that whenever a fine is imposed, X dollars is taken from the low-price firm and given to the high-price firm. What is the smallest amount that the fine can be such that both firms will want to always set the high price?

Dec 05 2019 View more View Less

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