Suppose That Two Airlines Are Cournot Duopolists Serving the Peoria-Dubuque

question 9

Multiple Choice

Suppose that two airlines are Cournot duopolists serving the Peoria-Dubuque route, and the demand curve for tickets per day is Q = 220 - 2p (so p = 110 - Q/2) .Total costs of running a flight on this route are 1,400 + 20q, where q is the number of passengers on the flight.Each flight has a capacity of 80 passengers.In Cournot equilibrium, each duopolist will run one flight per day and will make a daily profit of

• A)$400.
• B)$800.
• C)$220.
• D)$700.
• E)$3,000.

Understand the basic structure and purpose of function declarations in C.

Recognize the components and usage of function headers and prototypes.

Identify and utilize function bodies and calling statements correctly.

Distinguish between argument names in function headers as parameters or actual arguments.

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Definitions:

Standard Fixed Overhead Cost

The predetermined amount of fixed costs that are expected to be incurred to support operations, typically fixed for a specific period.

Direct Materials Quantity Variance

The difference between the actual quantity of materials used in production and the expected quantity, multiplied by the standard cost per unit.

Price Variance

The difference between the expected price and the actual price paid for an item.

Factory Overhead Volume Variance

The difference between the budgeted and actual overhead costs due to variations in the volume of production.