The inverse demand for a homogeneous-product Stackelberg duopoly isP= 24,000 -4Q.The cost structures for the leader and the follower, respectively, areC_L(Q_L) = 3,000Q_LandC_F(Q_F) = 6,000Q_F..

a. What is the follower's reaction function?

Q_F=-Q_L

b. Determine the equilibrium output level for both the leader and the follower.

Leader output:

Follower output:

c. Determine the equilibrium market price.

$

d. Determine the profits of the leader and the follower.

Leader profits: $

Follower profits: $