The Demand Function in a Duopoly Is: P = 100

question 17

Multiple Choice

The demand function in a duopoly is: P = 100 - 2(Q1 + Q2) . If the first firm decides to sell 10 units while the second firm sells 20 units, which of the following will be true?

• A) The second firm will earn twice as much revenue as the first firm.
• B) The second firm will sell at a lower price than the first firm.
• C) An increase in one firm's output will not affect the other firm's revenue.
• D) The first firm will earn a higher profit than the second firm.
• E) The market price will be determined by the second firm's output which is larger than the first firm's output.

---

Definitions:

Self-Esteem

The subjective evaluation or perception of one's own worth, encompassing beliefs and emotions about oneself.

Downward Spiral

A situation where a series of negative events or outcomes lead progressively to worsening conditions.

Negative Attitude

A pessimistic outlook or disposition towards people, situations, or events, often leading to detrimental outcomes.

Principles of Conduct

Basic ethical guidelines or moral codes that govern behaviors and actions within a society or organization.