In the Stackelberg leadership model,
a. the leader earns a larger profit compared to the follower.
b. the leader charges a higher price for its output compared to the follower.
c. the follower produces a larger output compared to the leader.
d. the follower charges a lower price for its output compared to the leader.
A
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Continuing with the same family from the preceding question, what is the greatest (integer) number of vacation days the family would be willing to give up in order to guarantee a healthy vacation?
a. 3 b. 4 c. 5 d. 6
Assume that you know the following cost information about Fred's widget company: Its fixed cost is $9, and its total variable cost is $6 for 1 unit; $11 for 2; $ 15 for 3; 20 for 4; and 26 for 5 . Given the above information, a. the marginal cost of providing the second unit is $5. b. the total cost of producing 4 units is $29
c. the average total cost of producing five units is $7. d. all of the above are true.