Suppose That Two Manufacturers Produce Identical Fireproof Safes at a Constant

question 78

Multiple Choice

Suppose that two manufacturers produce identical fireproof safes at a constant marginal cost of $90. The market inverse demand curve for fireproof safes is P = 450 - 2Q, where Q is the total output of fireproof safes produced by the two manufacturers, q₁ + q₂. The firms compete by simultaneously choosing their quantity to produce. At Nash equilibrium, what is the market price of a fireproof safe?

• A) $340
• B) $210
• C) $160
• D) $130

Understand the legal consequences of issuing, transferring, and dishonoring negotiable instruments.

Comprehend the concept of proper presentment of negotiable instruments and the consequences of improper presentment.

Grasp the importance of timely notice and the implications of failing to provide it in the context of negotiable instruments.

Understand the role of an agent and principal in the context of negotiable instruments and the liability implications.

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