Question
In a Cournot duopoly, if one firm increases its output,
how does the other firm typically respond?Solution
In a Cournot duopoly, if one firm increases its output, the other firm typically decreases its output to maximize its profit, given the increased total market supply. If the other firm will not decrease the output then there is be excess supply in the market.
According to the Bharatiya Nyaya Sanhita, 2023 what does petty organized crime mean?
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