Explain Why the Intersection of the Best-Response Functions Is the Cournot

question 123

Essay

Explain why the intersection of the best-response functions is the Cournot equilibrium.

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Definitions:

Favorably Disposed

Having a positive or supportive inclination towards someone or something.

Message

Information, ideas, or feelings that are conveyed from one entity to another through various forms of communication.

Nonverbal Indicator

A form of communication without the use of spoken language, involving gestures, facial expressions, and body language to convey information or feelings.

Maintaining Eye Contact

The act of keeping visual gaze on another person's eyes during communication, viewed as a sign of confidence and engagement.