An Industry Has Two Firms

question 7

Multiple Choice

An industry has two firms.The inverse demand function for this industry is p = 74 - 4q.Both firms produce at a constant unit cost of $26 per unit.What is the Cournot equilibrium price for this industry?

• A)$21
• B)$29
• C)$42
• D)$26
• E)None of the above.

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Definitions:

Unconditional Positive Regard

An attitude of total acceptance and support towards another person, irrespective of what they say or do.

Client-Centered Therapy

Client-centered therapy, developed by Carl Rogers, is a form of psychotherapy that emphasizes the importance of the patient's self-perception and encourages them to lead the therapy process.

Therapist Accepts

The principle of unconditional positive regard in psychotherapy, where the therapist accepts and supports the client regardless of what they say or do.

Behaviorism

A school of psychology that focuses on observable behaviors rather than on internal mental processes, emphasizing the role of environment and experience in shaping behavior.