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Cournot duopoly with the inverse demand function

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Reference no: EM133081954

Consider a Cournot Duopoly with the following inverse demand function: P = 4,000 - 4Q1 - 4Q2. The firms' marginal costs are identical and are given by MCi(Qi) = 120Qi. Based on this information, firm 1 and 2's reaction functions are:

A. r1(Q2) = 288 - 0.5Q1 and r2(Q1) = 288 - 0.5Q2

B. r1(Q2) = 485 - 0.5Q2 and r2(Q1) = 485 - 0.5Q1

C. r1(Q2) = 488 - 0.5Q2 and r2(Q1) = 488 - 0.5Q1

D. r1(Q2) = 33.3 - 0.25Q2 and r2(Q1) = 33.3 - 0.25Q1

Reference no: EM133081954

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