question archive The inverse demand for a homogeneous-product Stackelberg duopoly is
The inverse demand for a homogeneous-product Stackelberg duopoly is
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The inverse demand for a homogeneous-product Stackelberg duopoly is . The cost structures for the leader and the follower, respectively, are and .
a. What is the follower's reaction function?
b. Determine the equilibrium output level for both the leader and the follower.
c. Determine the equilibrium market price.
d. Determine the profits of the leader and the follower.
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