4 The inverse demand for a homogeneous-product Stackelberg duopoly is P = 20,000 ? 5Q. The cost structure for the leader and follower, respectively are CL(QL) = 3000 QL and CF(QF) =4000QF.;A. What is the follower?s reaction function?;B. Determine the equilibrium output level for both the leader and the follower.;C. Determine the equilibrium market price.;D. Determine the profits of the leader and the follower.
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