The Inverse Demand Function for Fuzzy Dice Is P =

question 45

Multiple Choice

The inverse demand function for fuzzy dice is p = 20 - q. There are constant returns to scale in this industry with unit costs of $8. Which of the following sets of statements is completely true?

• A) Monopoly output is 6. Cournot duopoly total output is 8. A Stackelberg leader's output is 8.
• B) Monopoly output is 8. Cournot duopoly total output is 8. A Stackelberg leader's output is 8.
• C) Monopoly output is 6. Cournot duopoly total output is 6. A Stackelberg follower's output is 3.
• D) Monopoly output is 6. Cournot duopoly total output is 8. A Stackelberg follower's output is 3.
• E) Monopoly output is 6. Cournot duopoly total output is 8. A Stackelberg follower's output is 4.

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