Suppose That There Are Just Two Firms in a Small

question 26

Multiple Choice

Suppose that there are just two firms in a small market.
Acme Manufacturing's Total Costs equal $100 + $3 × Quantity.
Generic Industries' Total Costs equal $500 + $3 × Quantity.
Refer to the information given above.Suppose that Acme and Generic face the same demand function,that they are both pursuing a profit-maximization policy,and that both companies are earning positive economic profits at that quantity.Which statement is true?

• A)Acme will produce more output than Generic.
• B)Generic will produce more output than Acme.
• C)Acme and Generic will produce the same quantity and will have the same profits.
• D)Acme and Generic will produce the same quantity,but Acme will have higher profits.

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The organic debris (plankton, dead organisms, fecal material, etc

Aphotic Region

The lower layer of the ocean (deeper than 100 m or so) where light does not penetrate.

Neustonic

Pertaining to the thin surface layer of an aquatic environment where organisms may float or swim.

Experience Turnover

The rate at which employees leave a workplace and are replaced by new personnel.