Consider the following diagram that pertains to a firm in a duopolistic market. (Dmax – -C₁)/S B's output, x³ A's best r

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Consider the following diagram that pertains to a firm in a duopolistic market. (Dmax – -C₁)/S B's output, x³ A's best r

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Consider The Following Diagram That Pertains To A Firm In A Duopolistic Market Dmax C S B S Output X A S Best R 1
Consider The Following Diagram That Pertains To A Firm In A Duopolistic Market Dmax C S B S Output X A S Best R 1 (86.53 KiB) Viewed 18 times
Consider the following diagram that pertains to a firm in a duopolistic market. (Dmax – -C₁)/S B's output, x³ A's best response function J3 Iso-profit horizontal at intersection with best response function XX (Pmax-C₁)/2s A's output, XA A's iso-profit curves ₁²₁₁²₂₁ Explain in no more than 100 words why the iso-profit curves are inverted-U shaped.
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