The Accompanying Table Shows Two Firms in a Single-Stage Duopoly

question 20

Multiple Choice

The accompanying table shows two firms in a single-stage duopoly game.Each firm makes its decision without knowledge of the other firm's decision.The payoffs for each firm represent economic profits,and each firm strictly prefers more economic profit than less.Assume firms are not able to collude.The Nash equilibrium total quantity of potatoes on the market is:

• A) 12,000
• B) 4,000
• C) 10,000
• D) 14,000
• E) 24,000

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Definitions:

Dysthymic Symptoms

long-term, chronic symptoms of depression that are less severe than major depressive disorder.

Mania

A mental state characterized by extreme energy, euphoria, hyperactivity, and a reduced need for sleep, often seen in bipolar disorder.

Hypomania

A milder form of mania, characterized by elevated or irritable mood, increased activity or energy levels, but not severe enough to cause significant impairment.

Depression

A common mental disorder characterized by persistent sadness, loss of interest, and a lack of energy or drive, often accompanied by physical symptoms.