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Two identical firms have MC = $1 (no FC) and face a market demand of: P = 6 â€“ Q
a)Cournot Duopoly: Each firm chooses a discrete quantity: 0, 1, 2, or 3 Present the game in matrix form, and find its pure strategy Nash equilibria Are there any dominant or dominated strategies for either player?
b)Bertrand Duopoly: Each firm can choose any price What is/are the Nash equilibrium/a?