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Suppose there are only two firms supplying in the market and they produce a homo
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【題目】 Suppose there are only two firms supplying in the market and they produce a homogeneous good. Two firms produce the good with the same constant marginal cost. Firms compete by setting price simultaneously . The equilibrium price of both firms must
equal to the marginal cost. <---答案
equal to the average cost.
equal to the marginal cost times the markup.
be greater than the marginal cost but smaller than the marginal cost times the markup.
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