If the Inverse Demand for Bean Sprouts Were Given by P(Y)=

question 23

Multiple Choice

If the inverse demand for bean sprouts were given by P(Y) = 940 - 5Y and the total cost of producing Y units for any firm were TC(Y) =40Y and if the industry consisted of two Cournot duopolists, then in equilibrium each firm's production would be

• A)90 units.
• B)45 units.
• C)30 units.
• D)60 units.
• E)47 units.

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