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There are two rms competing through prices in an oligopolistic market featuring leader and follower dynamics. The demand functions that each rm faces are given

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There are two rms competing through prices in an oligopolistic market featuring leader and follower dynamics. The demand functions that each rm faces are given by: 'h = 3 - PL - 05(PL - PF) '5! 'ir = 3 - PF - 050's - PL} where (as usual), F and L stand for "follower" and "leader\" respectively. Cost functions are given by: Cqp) = 2m, and Cd\") = 1%.\" a) What is the slope of the follower's reaction function? b) What are the equilibrium prices in this market? c) What is the leader's market share

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