In a Stackelberg oligopoly A) the leader moves first, and the followe
In a Stackelberg oligopoly
A) the leader moves first, and the follower chooses its price in the second stage of the game.
B) the leader moves first, and the follower chooses its output in the second stage of the game.
C) both firms act simultaneously, but one chooses price and the other output level.
D) there is no Nash equilibrium.
ANSWER
B
Expert paper writers are just a few clicks away
Place an order in 3 easy steps. Takes less than 5 mins.