In Problem 5, Suppose That Grinch and Grubb Go into the Wine

question 15

Multiple Choice

In Problem 5, suppose that Grinch and Grubb go into the wine business in a small country where wine is difficult to grow. The demand for wine is given by p = $360 - .2Q, where p is the price and Q is the total quantity sold. The industry consists of just the two Cournot duopolists, Grinch and Grubb. Imports are prohibited. Grinch has constant marginal costs of $45 and Grubb has marginal costs of $15. How much Grinch's output in equilibrium?

• A) 237.50
• B) 712.50
• C) 950
• D) 475
• E) 1,425

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