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

question 13

Multiple Choice

If the inverse demand for bean sprouts were given by P(Y) = 430 - 2Y and the total cost of producing Y units for any firm were TC(Y) = 10Y and if the industry consisted of two Cournot duopolists, then in equilibrium each firm's production would be

• A)52.50 units.
• B)70 units.
• C)105 units.
• D)35 units.
• E)53.75 units.

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Definitions:

Structure

The arrangement or organization of parts to form an object, system, or concept.

Arenediazonium Ion

An ion consisting of a benzene ring attached to a diazonium group (\(N_2^+\)), used in synthetic chemistry to introduce various functional groups to the benzene ring.

Azo Compound

An organic compound that contains a nitrogen-nitrogen double bond, usually depicted as -N=N-, connecting two aryl or alkyl groups.

1-Pentanamine

An organic compound, specifically an amine, with a five-carbon chain and an amino group at the first carbon.