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The following diagram illustrates the reaction functions and isoprofit curves for a homogeneous-product duopoly in which each firm produces at constant marginal cost. (LO1, LO2, LO3) a. If your rival produces 50 units of output, what is your optimal level of output? b. In equilibrium, how much will each firm produce in a Cournot oligopoly? c. In equilibrium, what is the output of the leader and follower in a Stackelberg oligopoly? d. How much output would be produced if the market were monopoliz
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