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Suppose that market demand can be represented as p = 100 - 2Q.There are 10 identical firms producing an undifferentiated product,each with the total cost function TC = 50 + q2.Compare the competitive outcome with the cartel outcome.What is the individual firm's incentive to cheat on the cartel?
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The inability of adults to recall personal memories from the early years of their life, typically before the age of 3-4 years.
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