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

question 19

Multiple Choice

If the inverse demand for bean sprouts were given by P(Y) = 300 - 3Y and the total cost of producing Y units for any firm were TC(Y) = 30Y and if the industry consisted of two Cournot duopolists, then in equilibrium each firm's production would be

• A)45 units.
• B)22.50 units.
• C)30 units.
• D)15 units.
• E)25 units.

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Definitions:

Gene Expression

The process by which information from a gene is used in the synthesis of a functional gene product, usually proteins, affecting the cell function.

Transcription

A process in which the DNA sequence in a gene is copied into mRNA.

MicroRNA

Small noncoding RNA that silences gene expression by hybridizing with an mRNA, thus triggering its destruction.

Complementary

Things that complete or bring out the best in each other, often used in reference to DNA strands or features that work synergistically.