題組內容
Now, suppose the two firms agree to collude in Stage 1 but continue to compete in a Cournot manner in Stage 2. That is, the two firms will collude with the R&D input level in Stage 1, and then individually decide the output levels in Stage 2. The two firms agree to coordinate R&D levels to maximize total joint profit.
(g) Find the social welfare under this scenario.
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