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A DUOPOLY OF 3 FIRMS WHERE 1 firm is leader and the others are followers Consider three duopolists Whose cost functions are C, = 10617;,

A DUOPOLY OF 3 FIRMS WHERE 1 firm is leader and the others are followers

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Consider three duopolists Whose cost functions are C, = 10617;, i = 1, 2, 3 where 01.; and q,- are their costs and outputs, respectively. The three duopolists have identical products and face a market demand function: 1:) : 40 q, Where q : ql | (12 | Q3. Find the solution When firm 1 is a leader and rms 2 and 3 are followers

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