Answer to Question #68231 in Microeconomics for dipti

Question

Find Alpha Vineyard's best-response function.

Answer 1

In game theory, the best response is the strategy which produces the most favorable outcome for a player, taking other players' strategies as given. The concept of a best response is central to John Nash's best-known contribution, the Nash equilibrium, the point at which each player in a game has selected the best response to the other players' strategies.

Reference:
https://en.wikipedia.org/wiki/Best_response