An industry has two firms-a Stackelberg leader and a follower.The price of the industry output is given by P = 84 - Q, where Q is the total output of the two firms.The follower has a marginal cost of $0.The leader has a marginal cost of $21.How much should the leader produce in order to maximize profits?
A)21
B)24
C)42
D)19
E)None of the above.

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The Answer of An industry has two firms-a Stackelberg leader and a follower.The price of the industry output is given by P = 84 - Q, where Q is the total output of the two firms.The follower has a marginal cost of $0.The leader has a marginal cost of $21.How much should the leader produce in order to maximize profits?
A)21
B)24
C)42
D)19
E)None of the above.

An Industry Has Two Firms-A Stackelberg Leader and a Follower