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.

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A legal document in which a person states how he or she wants property and possessions distributed after death.