Determine the reaction function for each firm


The inverse market demand in a homogeneous-product Cournot duopoly is P = 100 - 2(Q1 + Q2) and costs are C1 (Q1) = 12Q1 and C2(Q2) = 20Q2.

a. Determine the reaction function for each firm.
b. Calculate each firm's equilibrium output.

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Microeconomics: Determine the reaction function for each firm
Reference No:- TGS074196

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