Question: Please find the following question 6. Explain why, at a Cournot equilibrium with two firms, neither firm would have any regret about its output choice
Please find the following question

6. Explain why, at a Cournot equilibrium with two firms, neither firm would have any regret about its output choice after it observes the output choice of its rival. 7. What are the conditions that enhance the likelihood of a cooperative outcome in a repeated prisoners' dilemma game? 8. Explain why an increase in the price of an input typically causes an increase in the long-run total cost of producing any particular level of output. 9. How will a change in income affect the location of the budget line? 10. Will a production quota in a competitive market always increase producer surplus? 11. In the long-run equilibrium in an increasing-cost industry, each firm earns zero economic profits. Yet there is a positive area between the long-run industry supply curve and the long-run equilibrium price. What does this area represent? 12. What does the assumption that preferences are complete mean about the consumer's ability to rank any two baskets? 13. If indifference curves are bowed in toward the origin and the price of a good drops, can the substitution effect ever lead to less consumption of the good? 14. Why is the Cournot equilibrium price less than the monopoly price? 15. How does exchange efficiency differ from input efficiency
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