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suppose that firm 2 acts as a price leader and can commit in advance to setting its price once and for all. In turn, firm 1 will react to firm 2's price, according to the profit-maximizing response found earlier, P1=52.5+.25P2. In committing to a price, firm 2 is contemplating either a price increase to P2=$73 or a price cut to P2=$67. Which price constitutes firm 2's optimal commitment strategy? Justify your answer and explain why it makes sense.
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