The following table shows two firms in a single-stage duopoly game.Each firm makes its decision without knowledge of the other firm's decision.The payoffs for each firm represent economic profits,and each firm strictly prefers more economic profit than less.Assume the firms are not able to collude.The Nash equilibrium total quantity of potatoes on the market is

A) 12,000.
B) 4,000.
C) 10,000.
D) 14,000.
E) 24,000.

Question

The following table shows two firms in a single-stage duopoly game.Each firm makes its decision without knowledge of the other firm's decision.The payoffs for each firm represent economic profits,and each firm strictly prefers more economic profit than less.Assume the firms are not able to collude.The Nash equilibrium total quantity of potatoes on the market is

A) 12,000. 
B) 4,000. 
C) 10,000. 
D) 14,000. 
E) 24,000.

Quizplus · Accepted Answer

The Answer of The following table shows two firms in a single-stage duopoly game.Each firm makes its decision without knowledge of the other firm's decision.The payoffs for each firm represent economic profits,and each firm strictly prefers more economic profit than less.Assume the firms are not able to collude.The Nash equilibrium total quantity of potatoes on the market is

A) 12,000. 
B) 4,000. 
C) 10,000. 
D) 14,000. 
E) 24,000.

The Following Table Shows Two Firms in a Single-Stage Duopoly