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Business, 02.06.2020 17:58 edtorres5

An industry has two firms. The demand curve for the industry's output is given by p = 370 - 2q, where q is total industry output. Each firm has constant marginal cost equal to 10. Suppose that one firm is the Stackelberg leader and the other firm is the Stackelberg follower. The leader will choose an output of:.

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