If in Problem 4, the Inverse Demand for Bean Sprouts

question 25

Multiple Choice

If in Problem 4, the inverse demand for bean sprouts were given by P(Y) = 640 - 3Y 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) 53.33 units.

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Definitions:

Fiedler's Contingency Theory

A leadership model proposing that effective leadership is dependent on the match between a leader's style and the demands of the situation.

Path-Goal Theory

A leadership theory that suggests a leader's behavior is contingent to the satisfaction, motivation, and performance of their subordinates, and that it should align with the employees' goals.

Leadership Style

The approach and technique adopted by a leader to guide, influence, and lead a group towards achieving its goals.

Achievement-Oriented Leadership

A leadership style focused on setting challenging goals and seeking continuous improvement in team performance.