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24.1 Best Response Function Firms A and B are the only two rms in a market where the price depends on the quantity they each
24.1 Best Response Function Firms A and B are the only two rms in a market where the price depends on the quantity they each choose to produce: P=10QTA% Firm B's cost function is C(QB] = 46.23, so it has constant marginal cost of $4. What is rm B's best response function? 24.2 Cournot Equilibrium Suppose that firms A and B are the only two firms in a market. They will each choose, without knowing the other firms' choice, what quantity of output to bring to the market. . Firm A's best response function is Q = 9 - 28 2 . Firm B's best response function is QB = 6 - 24 What is the Nash Equilibrium
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