1 explain why at a cournot equilibrium with two firms, Econometrics

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1 explain why at a cournot equilibrium with two firms

1. Explain why, at a Cournot equilibrium with two firms, neither firm would have any regret about its output choice after it observes the output choice of its rival.

2. What is a reaction function? Why does the Cournot equilibrium occur at the point at which the reaction functions intersect?

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