Suppose that the market demand curve for bean sprouts is given by P = 880 -...

Suppose that the market demand curve for bean sprouts is given by P = 880 - 4Q, where P is the price and Q is the total industry output. Suppose that the industry has two firms, a Stackelberg leader and a follower. Each firm has a constant marginal cost of $80 per unit of output. In equilibrium, total output by the two firms will be

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Rahul Sunny answered 1 year ago

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