-The Above Figure Shows the Reaction Functions for Two Pizza

question 30

Multiple Choice

-The above figure shows the reaction functions for two pizza shops in a small isolated town.Firm B producing 100 pizzas and firm A producing 50 pizzas is not a Cournot equilibrium because

• A) Cournot duopolists agree to share the market equally.
• B) firm B is not on its best-response function.
• C) firm A is not on its best-response function.
• D) neither firm is on its best-response function.

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Definitions:

IF

A conditional statement used in programming that executes a specific segment of code if a given condition is true.

VLOOKUP

A function in Excel and other spreadsheet software that searches for a value in the first column of a range and returns a value in the same row from a specified column.

COUNTIF

A function in spreadsheet software that counts the number of cells within a range that meet a single criterion.

Stacked Bar Chart

A graphical representation of data where different categories are stacked on top of each other to show the total and the individual proportions of each category.