duopoly and sequential play Retum to the duopoly seUing in the text, summarized in Figure 16.1. Suppose,
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duopoly and sequential play Retum to the duopoly seUing in the text, summarized in Figure 16.1. Suppose, instead of simultaneous play, the first firm can announce and eommit to a production plan for itself before the second firm decides on a production plan. Find the first firm's best quantity choice, and the second firm's best choice upon hearing the first firm' s announcement. How does this change in the "rules of the game" help the first firm? What does it do to the second firm?
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