The Very Best Joint Outcome Possible for the Firms in a Duopoly

question 46

Multiple Choice

The very best joint outcome possible for the firms in a duopoly is to produce the

• A) monopoly level of output.
• B) perfectly competitive level of output.
• C) amount of output that maximizes total revenue.
• D) amount of output that minimizes total cost.
• E) Nash equilibrium level of output if the game is not repeated.

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Definitions:

Realistic Enough

A term indicating that something is sufficiently close to reality to be considered plausible or achievable.

Potential Investors

Individuals or entities that may consider investing capital in a project or business but have not yet committed.

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A method of raising capital through the collective effort of friends, family, customers, and individual investors, typically via the internet.

Fundraising Goal

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