The inverse demand for a homogeneous-product Stackelberg duopoly is P= 16,000-4Q. The cost structures for the leader and the follower, respectively, are CL(Q)=4,000 QL and CF (QA=6,000QF a. What is the follower's reaction function? QF=- QL b. Determine the equilibrium output level for both the leader and the follower. Leader output: Follower output: c. Determine the equilibrium market price.

The inverse demand for a homogeneous-product Stackelberg duopoly is P= 16,000-4Q. The cost structures for the leader and the follower, respectively, are CL(Q)=4,000 QL and CF (QA=6,000QF a. What is the follower's reaction function? QF=- QL b. Determine the equilibrium output level for both the leader and the follower. Leader output: Follower output: c. Determine the equilibrium market price.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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