Question

A function that defines the profit-maximizing level of output given the output levels of another firm is called a(n):________

Answer 1

reaction

Step-by-step explanation:

A function that defines the profit-maximizing level of output given the output levels of another firm is called a(n) (one word) function. reaction. Given the following inverse market demand in a homogeneous-product Cournot duopoly: P = a - b(Ql+ Q), the marginal revenue of firm 1 equals. a - bQ2- 2bQ1.