Final answer:
The answer to the strategic alliance where two firms cooperate to produce a product together is a joint venture.
Step-by-step explanation:
One form of strategic alliance in which two firms agree to cooperate to produce a product or service together is the joint venture. Unlike a corporate merger, where two formerly separate firms combine to become a single firm, or an acquisition, where one firm purchases another but may continue to operate under its former company name, a joint venture involves two companies working together while remaining distinct entities. The purpose of the joint venture can vary, including growth, efficiency, new product development, or other strategic objectives.