-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:

Income Level

Refers to the amount of money an individual or household earns within a certain period, often used as a measure of economic status.

Interests And Values

Fundamental beliefs and preferences that guide individual and group behavior and decision-making.

Ethical Intensity

Refers to the perceived importance or significance of an ethical issue, affecting how decision-makers respond to it.

Decision Maker's Interpretation

The process by which an individual who is responsible for making decisions perceives and understands information relevant to decision making.