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Cournot’s model of oligopoly - page 13 / 38

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Nash equilibrium

( p 1 , p 2 ) s u c h t h a t p 1 B 1 ( p 2 ) a n I.e. intersection of the graphs of the best response functions d p 2 B 2 ( p 1 )

p2

pm

c

  • 0

    c

pm

p1

S o : u n i q u e N a s h e q u i l i b r i u m , ( p 1 , p 2 ) = ( c , c ) .

13

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