If in Problem 4, the Inverse Demand for Bean Sprouts

question 16

Multiple Choice

If in Problem 4, the inverse demand for bean sprouts were given by P(Y) = 430 - 2Y and the total cost of producing Y units for any firm were TC(Y) = 10Y and if the industry consisted of two Cournot duopolists, then in equilibrium each firm's production would be

• A) 52.50 units.
• B) 70 units.
• C) 105 units.
• D) 35 units.
• E) 53.75 units.

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Pre-estimated or forecasted based on existing data or trends.

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