Suppose That the Inverse Demand for Bean Sprouts Is Given

question 2

Multiple Choice

Suppose that the inverse demand for bean sprouts is given by P(Y) = 370 - 4Y and the total cost of producing Y units for any firm is TC(Y) = 10Y. If the industry consists of two Cournot duopolists, then in equilibrium each firm's production is

• A) 45 units.
• B) 22.50 units.
• C) 15 units.
• D) 30 units.
• E) 23.13 units.

---

Definitions:

Millivolts

A unit of electric potential equal to one thousandth of a volt, commonly used in various fields such as physics and electrophysiology to measure small voltage differences.

All-Or-None

A principle stating that the strength of a response of a nerve or muscle fiber is not dependent on the strength of the stimulus; if a stimulus is above a certain threshold, a nerve or muscle fiber will fire with full strength.

Neuron Fires

The process by which a neuron activates and transmits an electrical signal down its axon, triggering communication with other neurons or muscle cells.

Partial

Relating to or constituting a part of something as opposed to being whole or complete.