Suppose that Ngoc and Kalene are duopolists. Ngoc is producing 580 units of output, and Kalene is producing 880 units of output. When Kalene produces 880 units, Ngoc maximizes profit by producing 580 units. When Ngoc produces 580 units of output, Kalene maximizes profit by producing 880 units. Ngoc and Kalene are
A) pricing at the minimum of marginal cost.
B) in a competitive market.
C) at a Nash equilibrium.
D) engaging in monopoly pricing.
Correct Answer:
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