Suppose That the Duopolists Carl and Simon Face a Demand

question 1

Multiple Choice

Suppose that the duopolists Carl and Simon face a demand function for pumpkins of Q = 16,800 - 800P, where Q is the total number of pumpkins that reach the market and P is the price of pumpkins.Suppose further that each farmer has a constant marginal cost of $1 for each pumpkin produced.If Carl believes that Simon is going to produce Q_s pumpkins this year, then the reaction function tells us how many pumpkins Carl should produce in order to maximize his profits.Carl's reaction function is R_C (Q_s) =

• A)16,800 - 800Q_s.
• B)4,000 - Q_s/2.
• C)8,000 - Q_s/2.
• D)16,800 - 1,600Q_s.
• E)12,000 - Q_s.

Explain the impact of cognitive biases on judgment and decision-making.

Understand the nature and characteristics of different anxiety disorders and their diagnoses.

Explain the biological, cognitive, and sociocultural factors contributing to anxiety disorders.

Describe various treatments and therapies used for managing anxiety disorders, including cognitive-behavioral therapy and exposure therapy.

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