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Suppose two colas compete in a Bertrand market structure with differentiated products. Demand for the first cola is given by where p1 is price for cola 1 and p2 is the price for cola 2. Demand for the second cola is
The costs of providing the colas are C1 = q1 and C2 = q2, respectively. The second cola firm will charge $____ for its cola.
Action Potential
The electrical impulse that provides the basis for the conduction of a neural impulse along an axon of a neuron.
Refractory Period
A time right after stimulation when a nerve or muscle cannot respond to additional stimulation.
Neuronal Membrane
The phospholipid bilayer that encases a neuron, allowing for the regulation of ion flow necessary for transmitting nerve impulses.
Sodium
A chemical element, symbol Na, that is a soft, silvery-white, highly reactive metal and is used in various compounds and biological functions.
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