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The market demand function is Q=7,0001,000p. Each firm has a marginal cost of m=$0.16. Firm 1, the leader, acts before Firm 2, the follower. Solve

The market demand function is

Q=7,0001,000p.

Each firm has a marginal cost of

m=$0.16.

Firm 1, the leader, acts before Firm 2, the follower. Solve for the Stackelberg-Nash equilibrium quantities, prices, and profits. Compare your solution to the Cournot-Nash equilibrium.Part 2The Stackelberg-Nash equilibrium quantities are

q1=enter your response here

units and

q2=enter your response here

units.

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