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.

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