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Your the head of a company that works with the government to launch space tech. Your company estimates that the worldwide market demand curve for space tech is Q = 30,000 - P/20. Including your company, there are a total of three firms in the rocket business, each with an MC of $300K per rocket launch.
1. Which model is this business Cournot or Bertrand? explain.
2. State the equilibrium price, quantity, and profits for each firm in the market, assuming this cournot competition, if the model is bertrand, how does it change?
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