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:

Industry Type

Classifications of various sectors of the economy based on the primary activity they engage in, such as manufacturing, services, or technology.

Risk Averse

A trait or behavior where an individual or entity prefers to avoid risk rather than facing uncertainty, often opting for safer alternatives.

Risk Checklists

Tools or lists used to identify, assess, and manage potential risks in a project or operation.

Project Logic Diagram

A visual representation of the logical sequencing of activities, tasks, and milestones required to achieve a project's objectives.