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Show transcribed image text 3 Bertrand?s duopoly game with different unit costs 25 points The market demand is given by where p is the lowest price offered b firms Now consider Bertrand

Show transcribed image text 3. Bertrand?s duopoly game with different unit costs (25 points) The market demand is given by where p is the lowest price offered b firms. Now consider Bertrand?s duopoly game under an alternative assumption that the firms? unit costs are different, and are equal to c1 and c2 respectively, where c1 < c2.="" denote="" by="" p1^m="" the="" price="" that="" maximizes="" (p-c1)="" (alpha-p),="" and="" assume="" that="" c2="">< p1^m.(a)="" suppose="" that="" the="" rule="" for="" splitting="" up="" consumers="" when="" the="" prices="" are="" equal=""

May 16 2020 View more View Less

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