A Stackelberg duopoly is a situation where one firm is a leader, and the other is a follower. The leader firm chooses its output level first, and the follower adjusts its output based on the leader's decision.
A Stackelberg duopoly is a situation where one firm is a leader, and the other is a follower. The leader firm chooses its output level first, and the follower adjusts its output based on the leader's decision.