If in Problem 4, the Inverse Demand for Bean Sprouts

question 4

Multiple Choice

If in Problem 4, the inverse demand for bean sprouts were given by P(Y) = 300 - 3Y and the total cost of producing Y units for any firm were TC(Y) = 30Y and if the industry consisted of two Cournot duopolists, then in equilibrium each firm's production would be

• A) 45 units.
• B) 22.50 units.
• C) 30 units.
• D) 15 units.
• E) 25 units.

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