In the Stackelberg Model, the Leader Has a First-Mover Advantage

question 16

Multiple Choice

In the Stackelberg model, the leader has a first-mover advantage because it

• A)has lower costs than the follower.
• B)chooses its output to manipulate the follower to produce the output that most benefits the leader.
• C)reacts to the follower's decision.
• D)differentiates its output.

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Definitions:

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