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(See Solution) Starting with the reaction functions of duopolists A and B from Problem 4 (p. 403 in text), find the Cournot solution algebraically. *Given

Question: Starting with the reaction functions of duopolists A and B from Problem 4 (p. 403 in text), find the Cournot solution algebraically.

*Given the reaction function of duopolist A, Q A = (12 – Q B )/2(1) and the reaction function of duopolist B, Q B = (12-Q A )/2(2), find the Cournot solution, that is find the Q A and Q B by substituting (1) and (2).

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