Examlex
Explain the three elements of a syllogism and give an example of each.
Reaction Function
In game theory, a strategy that outlines how one player will react to the choices of other players, aiming to maximize their own payoff.
Cournot Equilibrium
A situation in an oligopoly market where each firm chooses its optimal output level assuming the output levels of its competitors are fixed.
Cournot Duopoly
A Cournot Duopoly is a market structure where two firms compete on the amount of output they will produce, each assuming the other's output as given when deciding its own output level.
Cournot Duopoly
A model of competition in which two firms choose their output levels strategically, assuming the output of the other, aiming to maximize profit.
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