Question: The market demand curve for a pair of duopolists is
The market demand curve for a pair of duopolists is given as P = 36 - 3Q, where Q = Q1 + Q2. The constant per unit marginal cost is 18 for each duopo-list. Find the equilibrium price, quantity, and profit for each firm, assuming the firms act as a Stackelberg leader and follower, with firm 1 as the leader.
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