Refer to Cournot Problem. Total industry output will be
Consider a Cournot oligopoly with two identical firms. These firms each have constant marginal costs of $10. The market for these firms’ product has demand Q = 100 - P.
a. 30 units.
b. 45 units.
c. 60 units.
d. 90 units.
c. 60 units.
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Select the phrase that correctly completes the following statement. "A decrease in the expected future price caused an increase in the supply of smartphones. As a result,
A) the price of smartphones decreased and the demand for smartphones increased." B) the price of smartphones decreased. The lower price caused the supply of smartphones to decrease." C) the price of smartphones decreased and the quantity of smartphones demanded increased." D) the equilibrium quantity of smartphones decreased."
Refer to the following graph. An increase in supply is reflected as
a. a shift of the supply curve from S to S2.
b. a shift of the supply curve from S to S1.
c. a shift of the supply curve from S1 to S2.
b. a change in the quantity supplied from 6.8 to 5.2 million minutes when price is $12.50.
What steps can a bank take to deal with a significant outflow of deposits?
What will be an ideal response?
Refer to the above figure. Demand is
A) perfectly elastic. B) unitary elastic. C) perfectly inelastic. D) undetermined without more information.