An Industry Has Two Firms

question 11

Multiple Choice

An industry has two firms.The inverse demand function for this industry is p = 263 - 6q.Both firms produce at a constant unit cost of $29 per unit.What is the Cournot equilibrium price for this industry?

• A)$29
• B)$31
• C)$107
• D)$53.50
• E)None of the above.

---

Definitions:

Oral Presentation

A verbal exposition of information or ideas presented before an audience, often accompanied by visual aids such as slides or charts.

Visual Aids

Tools such as charts, graphs, and images used to supplement verbal communication, making information more understandable and memorable.

Visual Aids

Graphical elements such as charts, diagrams, photographs, and videos used to supplement a presentation or message for clearer understanding.

Act on Your Ideas

The initiative to move forward with one's concepts or plans, turning them into actions or reality.