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[See Solution] Andy Lange, president of the University of South Wisconsin, is concerned with the declining business at the University Book Store. (See Problem

Question: Andy Lange, president of the University of South Wisconsin, is concerned with the declining business at the University Book Store. (See Problem 14—14 for details.) The students tell him that the prices are simply too high. Andy, however, has decided not to lower the prices. If the same conditions exist, what long-run market shares can Andy expect for the four bookstores?

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