Question: 1) Using words, not diagrams or equations, explain how a Stackelberg industry leader differs from a Cournot Oligopolist. Specifically, explain why a Stackelberg leader can

1) Using words, not diagrams or equations, explain how a Stackelberg industry leader differs from a Cournot Oligopolist. Specifically, explain why a Stackelberg leader can earn higher profits and control a larger share of the market. Finally, identify a company that you think may have the ability to be a Stackelberg leader in its industry.

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