Suppose That the Inverse Demand for Bean Sprouts Is Given

question 33

Multiple Choice

Suppose that the inverse demand for bean sprouts is given by P(Y) = - 4Y and the total cost of producing Y units for any firm is TC(Y) = 10Y.If the industry consists of two Cournot duopolists, then in equilibrium each firm's production is

• A)45 units.
• B)22.50 units.
• C)15 units.
• D)30 units.
• E)23.13 units.

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