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(solution) Two indentical restaurants, Zuhras and Fatimas, consider


Two indentical restaurants, Zuhraís and Fatimaís, consider entering a new market. Setting upin the new market incurs a once-for-all cost K > 0. Production involves constant marginal costc. If both restaurants enter the market Bertrand competition then takes place afterwards. If therestaurants make their entry decision sequentially, what is the equilibrium?

 


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