The market demand function is Each firm has a marginal cost of m=$0.28. Firm 1, the leader, acts before Firm 2, the follower. Solve for the Stackelberg-Nash equilibrium quantities, prices, and profits. The Stackelberg-Nash equilibrium quantities are The Stackelberg-Nash equilibrium price is Profits for the firms are and Q-7,000-1,000p. 9₁ units and 92= units. (Enter your responses as whole numbers.) p=$(Enter your response rounded to two decimal places) x₁ =$ ₂=$(Enter your responses rounded to two decimal places)

The market demand function is Each firm has a marginal cost of m=$0.28. Firm 1, the leader, acts before Firm 2, the follower. Solve for the Stackelberg-Nash equilibrium quantities, prices, and profits. The Stackelberg-Nash equilibrium quantities are The Stackelberg-Nash equilibrium price is Profits for the firms are and Q-7,000-1,000p. 9₁ units and 92= units. (Enter your responses as whole numbers.) p=$(Enter your response rounded to two decimal places) x₁ =$ ₂=$(Enter your responses rounded to two decimal places)

Principles of Microeconomics (MindTap Course List)

8th Edition

ISBN:9781305971493

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter17: Oligopoly

Section: Chapter Questions

Problem 9PA

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