We study the equilibrium with quantity setting behavior and price setting behavior of firms in duopoly under relative profit maximization with constant conjectural variations, and show mainly the following results. 1) Conjectural variations of firms are irrelevant to the equilibrium of a...

We study the equilibrium with the quantity setting behavior and price setting behavior of firms in a duopoly under relative profit maximization with constant conjectural variations, and arrive at the following results. 1) Conjectural variations of firms are irrelevant to the equilibrium of a...