Multiple Choice
Two firms compete in a Stackelberg fashion. If firm 2 is the leader, then:
A) firm 1 views the output of firm 2 as given.
B) firm 2 views the output of firm 1 as given.
C) Both firm 1 views the output of firm 2 as given and firm 2 views the output of firm 1 as given are correct.
D) None of the answers is correct.
Correct Answer:
Verified
Correct Answer:
Verified
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