Determine the equilibrium price and the quantity produced

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Reference no: EM13836475

Consider a Stackelberg competition with one leader and one follower. All products produced by the firms are homogeneous.

Inverse market demand function is given by:

P(Q) = 24 Q

Each firm has a marginal cost of zero.

Consider a Stackelberg competition with one leader and one follower. Determine the equilibrium price, and the quantity produced by each player.

Reference no: EM13836475

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