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Answer the Question in the attached image Consider a market with two producers. Firm 1 has the cost function ci(y) = 8y; and firm two

Answer the Question in the attached image

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Consider a market with two producers. Firm 1 has the cost function ci(y) = 8y; and firm two has the cost function c(y2) = 2y;. Market demand is given by p = 440 - q. c) Find the profits and total costs of each firm if they are playing a Stackelberg leadership game and firm 2 is the leader

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