What is the followers reaction function

Reference no: EM13694624

The market demand for a homogeneous-product Stackelberg duopoly is 16,000-4(Ql+Qf) and costs are Cl(Ql)=4000Ql and Cf(Qf)=6000Qf.

What is the follower’s reaction function?

Determine the equilibrium output level for both the leader and the follower.

Determine the equilibrium market price.

Determine the profits of the leader and the follower.

Reference no: EM13694624

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