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Inverse market demand equation for the output

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Reference no: EM131048948

Suppose that the inverse market demand equation for the output of two identical firms is P = 68 - 8Q. The total cost equations for the Stackelberg leader and follower are TCL = 4QL and TCF = 4QF, respectively. The profits of the Stackelberg leader and follower are:

a. $288; $144.
b. $37.50; $18.75.
c. $64; $32.
d. $54; $27.
e. $144; $72.
f. $180; $90.

Reference no: EM131048948

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