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Suppose duopolists face the market inverse demand curve P = 100 - Q,Q = q1 + q2,and both firms have a constant marginal cost of 10.If firm 1 is a Stackelberg leader and firm 2's best response function is q2 = (100 - q1) /2,at the Nash-Stackelberg equilibrium firm 1's output is
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A person with whom one shares a legally or culturally recognized relationship, intended for a lifelong union.
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Situations in which a person is torn between two or more competing desires, goals, or impulses.
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Desired outcomes or targets that individuals or groups aim to achieve through their actions and efforts.
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