Business, 04.08.2021 18:10 emilypzamora11

An industry has two firms—a Stackelberg leader and a follower. The price of the industry output is given by P = 84 −Q, where Q is the total output of the two firms. The follower has a marginal cost of $0. The leader has a marginal cost of $21. How much should the leader produce in order to maximize profits?

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An industry has two firms—a Stackelberg leader and a follower. The price of the industry output is g...

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