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

User Gluxon
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Answer:

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.

User Steve Pike
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