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Compare the duopoly outcomes under the Cournot and Stackelberg games. How do the two firms compete? Are the decisions simultaneous or sequential? In which game
Compare the duopoly outcomes under the Cournot and Stackelberg games. How do the two firms compete? Are the decisions simultaneous or sequential? In which game are profits higher? Which game is more efficient-i.e. leads to a higher quantity and a lower price-when the two firms have the same cost functions?
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