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Business, 04.09.2019 20:20 mcdowelle360

Suppose that we have two (duopoly) firms and they each own a homogeneous resource, such as a forest or a fishing pool, of size 25. each of them can withdraw any nonnegative amount, c or d, in the first period, provided of course that c £ 25, d £ 25. there are two periods, and whatever is not extracted in the first period is extract

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Suppose that we have two (duopoly) firms and they each own a homogeneous resource, such as a forest...
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