1 Stackelberg Suppose econ and man. econ are competing following the rules of the Stackelherg ('J'ligopolj; Model. Suppose man. econ is the leader and econ is the follower. Market dermmd for an economies degree is Q _ l 21:. Both departments" marginal cost is $4401} per degree. 1.1 What is the econ department's best response function? 1.2 VvThat is the man. econ department's residual demand curve? 1.3 What is the Nash-Stackelberg equilibrium in this market? 1.4 What is the price at this equilibrium? 1.5 What are prots for the two departments at this equilibrium? 1.6 Graph the marginal cost, demand. residual demand, and marginal revenue curve for the man. econ department. Show the equi- librium price and quantityr for the man. econ department