Problem
Suppose the two firms in question 1 are now playing a Stackelberg game, with firm 1 as leader and firm 2 as follower. What are the equilibrium levels of output and industry price? How does your answer change if firm 1 has the cost function given in 1(c)?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.