The inverse demand for a homogeneous-product Stackelberg duopoly is P = 16,000 - 4Q. The cost structures for the leader and the
follower, respectively, are CL(QL) = 4,000QL and CF (QF) = 6,000QF..
a. What is the followers reaction function?
QF =
b. Determine the equilibrium output level for both the leader and the follower.
Leader output:
Follower output:
c. Determine the equilibrium market price.
$
d. Determine the profits of the leader and the follower.
Leader profits: $
Follower profits: $
a. What is the followers reaction function?
QF =
b. Determine the equilibrium output level for both the leader and the follower.
Leader output:
Follower output:
c. Determine the equilibrium market price.
$
d. Determine the profits of the leader and the follower.
Leader profits: $
Follower profits: $
1 answer:
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The fewest number of hours from the graph is 73 hours.
<h3>Equation</h3>Equation is an expression used to show the relationship between two or more numbers and variables.
Let x represent the number of $10 course and y represent the number of $15 course.
Her goal is to save at least $1000, hence:
- 10x + 15y ≥ 1000 (1)
Also:
- x + y ≤ 80 (2)
The fewest number is (20, 53)
The fewest number of hours from the graph is 73 hours.
Find out more on equation at: brainly.com/question/2972832
