Example Suppose the inverse demand function for two firms in a homogeneous-product
Stackelberg duopoly is given by
P=50-(Q+ Q2)
and the cost functions for the two firms are
C, (Q₂)=2Q,
C2(Q2)=2Q2
Firm 1 is the leader, and firm 2 is the follower.
What is firm 2's reaction function?
What is firm 1's output?
What is the market price?

question 1 is 8, question 2 is 9, question 3 is 24

step-by-step explanation:

now, the numbers they give you at the top are the key. from there, you just have to plug and chug! let's try 1, 2, and 3!

key: a=3, b=5, c=6

1. a+5

remember, a=3, so we plug that in to get 3+5=8

2. 15-c

c=6, so we plug that in to get 15-6=9

3. 4b

b=6, so we plug it in to get 4*6=24

time to try the rest on your own! if you put the answers below in a comment, i'll check them for you!

knlknlkkn

step-by-step explanation:

"exterior angles = 360 / number of sides.

60 = 360 / sides

sides = 360 / 60

sides = 6"