Suppose the Demand Function in the Industry Is P =

question 84

Multiple Choice

Suppose the demand function in the industry is p = 100 - y and each firm has a constant marginal cost of $40 and no fixed costs. If the Cournot model of oligopoly accurately reflects firm behaviour in this industry, then the aggregate equilibrium output of n + 1 firms can be expressed as:

• A)160(n + 1)/(n + 2).
• B)20(n + 1).
• C)60(n + 1)/(n + 2).
• D)160n/(n + 1).

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Definitions:

Visceral Peritoneum

Layer of peritoneum covering the abdominal organs.

Enteric Nervous System

A subdivision of the autonomic nervous system that directly controls the gastrointestinal system.

Neurotransmitters

Neurotransmitters are chemical substances released by neurons to transmit signals to other neurons, muscle cells, or gland cells, playing a key role in the functioning of the nervous system.

Acetylcholine

A neurotransmitter in the nervous system that plays crucial roles in muscle activation and various brain functions.