ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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EXERCISE 191.1 (Stackelberg's duopoly game with fixed costs) Suppose that the inverse demand function is given by (188.2) and the cost function of each firm i is given by cq) = {+cવ્ય if a > 0, where c > 0, f > 0, and c <a, Show that if c = 0, x = 1: 12, and f = 4, Stackelberg's game has a unique subgame perfect equilibrium, in which firm 1's output is 8 and firm 2's output is zero. 1
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Transcribed Image Text:EXERCISE 191.1 (Stackelberg's duopoly game with fixed costs) Suppose that the inverse demand function is given by (188.2) and the cost function of each firm i is given by cq) = {+cવ્ય if a > 0, where c > 0, f > 0, and c <a, Show that if c = 0, x = 1: 12, and f = 4, Stackelberg's game has a unique subgame perfect equilibrium, in which firm 1's output is 8 and firm 2's output is zero. 1
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