The inverse market demand in a homogeneous product, Business Economics

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The inverse market demand in a homogeneous product

The inverse market demand in a homogeneous product Stackelberg duopoly is

P= $176-12*(Q1+Q2) and

Cost are

C1(Q1)=$38*Q1

C2(Q2)=$20*Q2

Determine the reaction function for the firm 2 follower

Calculate each firm equilibrium output

Firm 1

Firm 2

Calculate the equilibrium market price

Calculate the profit each firm earn in equilibrium

Firm 1

Firm 2

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Business Economics: The inverse market demand in a homogeneous product

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Business Economics: The inverse market demand in a homogeneous product

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