There Are Only Two Firms in an Industry with Demand

question 77

Multiple Choice

There are only two firms in an industry with demand curves q₁ = 30 - P and q₂ = 30 - P.Both have no fixed costs and each has a marginal cost of 10 per unit produced.If they behave as profit-maximizing price takers,each produces 20 units and sells them at a price of 10 so that each firm makes zero economic profits.If they formed a cartel and split the production of the output evenly,the economic profit of each firm would be

• A) 0.
• B) 50.
• C) 100.
• D) 200.

Recognize the importance of environmental factors and community infrastructure in disease prevention.

Understand the historical development of public health initiatives and their impact on community health.

Analyze the role of government and non-governmental organizations in the advancement of public health.

Identify key figures and their contributions to public health and nursing.

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Definitions:

Recovery

The process of overcoming a disorder, addiction, or illness, focusing on both physical and mental health improvements.

Distal Risks

Factors that are not directly associated with an immediate outcome but can contribute to the likelihood of a problem or disorder developing over time.

Dynamic Model

A theoretical or computational representation of something that accounts for change or movement, often used in understanding systems or behaviors over time.

Recovery

The process of regaining health, wellness, and sobriety following the impact of addiction, mental illness, or another debilitating condition.