Multiple Choice
Two firms compete as a Stackelberg duopoly.The demand they face is P = 24 − Q.The cost function for each firm is C(Q) = 4Q.The profits of the two firms are:
A) L = $100; F = $50.
B) L = $50; F = $25.
C) L = $25; F = $12.5.
D) L = $20; F = $10.
Correct Answer:
Verified
Correct Answer:
Verified
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