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In need of someone to help explain this answer for me. Intermediate microeconomics question regarding oligopoly. Imagine that the at-screen TV market is made up

In need of someone to help explain this answer for me. Intermediate microeconomics question regarding oligopoly.

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Imagine that the at-screen TV market is made up of one large rm that leads the industry and sets its own price rst, and another rm that follows the leader when deciding its own prot-maximizing strategy. The leader has a cost function of cL(qL) = 54L, and 2 the follower has a cost function of cF(qF) = (17F , where Q = 4L + qF. Total market demand for at-screen W5 is given by the function Q = 1, 000.00 2p. Calculate the following values: Leading rm's production: qL = 326.67 (Round to two decimals if necessary.) Follower rm's production: (11: = 245 (Round to two decimals if necessary.) Equilibrium price: p = $ (Round to two decimals if necessary.)

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