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Business, 03.12.2019 19:31 firesoccer53881

Mark and chris were once partners in a bakery. but, they had a falling out, dissolved their partnership and went their separate ways, with each opening up their own bakery. they now own and operate the only two bakeries in their town and, thus, are the only suppliers of fresh bread in town. they use very similar methods to bake their bread, so they have no loyal customers. let's suppose that the demand for bread is given by p = 200 - q where p is the price of a loaf of bread (in cents), q is the total number of loaves of bread offered for sale. in addition, let's assume that it cost each baker 80 cents to produce each loaf of bread. (a) before mark and chris went separate ways, they divided profit equally within their partnership. what was their profit-maximizing price and quantity before they dissolved their partnership? what was the profit for each? (b) find mark and chris best response functions.

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Mark and chris were once partners in a bakery. but, they had a falling out, dissolved their partners...
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