What one charging the lower price earns

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Reference no: EM1361176

You operate in a duopoly in which you and a rival must simultaneously decide what price to advertise in the weekly newspaper. If you each charge a low price, you each earn zero profits. If you each charge a high price, you each earn profits of $200. If you charge different prices, the one charging the higher price loses $50 and the one charging the lower price earns $300.

Reference no: EM1361176

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