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suppose firm 1 and firm 2 each produce the same product and face a market demand curve described by Q=5000-200P.Firm 1 has a unit cost of production c1,equal to 6, weeas firm 2 has a higher unit cost of production, c2, equal to 10

a. what is the bertrand nash equilibrium outcome?

b. what are the profits of each firm?

c. is this outcome efficient?

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关键词：bertrand Bertran model mode rand bertrand model