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economics question 1} Suppose the smartphooe market has two rms, Samsoug and Apple. Apple is the quantity {Stackelherg} leader in this market. The inverse market

economics question

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1} Suppose the smartphooe market has two rms, Samsoug and Apple. Apple is the quantity {Stackelherg} leader in this market. The inverse market demand for smartphones is pfy} - Ell] I}? Firm costs are - Samsung: cur} - Elly Allele: Eff} ' I\"? a} What is the total quantity.r of phones produced in the market? HEW is this total quantity split between Samsung and Apple? h} Suppose Apple decides it wants to produce more and increases output by 1. How do Apple's prots change? (Hint: when rm 1 increases its output, then rm 2 will also change its output according to its reaction function)

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