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What is the price and quantity at the kink

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Reference no: EM132587175

A firm operating under an Oligopoly faces the following demand curves for a price increase and a price decrease respectively:

P1 = 30 - 5Q

P2 = 40 - 10Q

a) What is the price and quantity at the kink?

b) What are the upper and lower bound values of the marginal revenue at the kink?

Reference no: EM132587175

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