Suppose That Mystic Energy and E-Storm Are the Only Two

question 53

Multiple Choice

Suppose that Mystic Energy and E-Storm are the only two producers of hydrogen fuel cells. The market inverse demand curve for hydrogen fuel cells is P = 1,300 - 0.08Q, where Q is the number of fuels cells per month and P is the price per fuel cell. The marginal cost is constant at $500. Acting as a cartel, the owners of Mystic Energy and E-Storm agree to evenly split the market output. In this case, the market price is $ ____.

• A) 1,200
• B) 1,100
• C) 1,000
• D) 900

---

Definitions:

Institutional Sexism

Discrimination based on gender that is entrenched in the policies, laws, and practices of organizations and institutions, leading to inequality.

Matriarchal Structure

A social organizational form where women hold positions of power, authority, and social importance.

Peer Relationships

Social connections among individuals of similar age or developmental level, which are crucial for emotional, social, and cognitive development.

Socialization

The process by which individuals learn and internalize the values, beliefs, and norms of their society or social group.