Economics · Microeconomics
Assertion (A): Cournot's duopoly model leads to a stable equilibrium. Reason (R): The behavioral pattern of each firm is naive as it assumes the competitor will keep its output constant.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1(A) is incorrect, but (R) is correct
- 2(A) is correct, but (R) is incorrect
- 3Both (A) and (R) are correct but (R) is not the correct explanation of (A)✓
- 4Both (A) and (R) are correct and (R) is the correct explanation of (A)
Correct answer
Both (A) and (R) are correct but (R) is not the correct explanation of (A)
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