Consider a market with two horizontally differentiated firms X and

Consider a market with two horizontally differentiated firms, X and Y. Each has a constant marginal cost of $20. Demand functions are:

Qx = 100 – 2Px + 1Py

Qy = 100 – 2Py + 1Px

Calculate the Bertrand equilibrium in prices in the market.

Consider a market with two horizontally differentiated firms X and

 
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