Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Qd = 20,000 - 200P, where P is the price of a cubic yard of concrete and Qd is the number of cubic yards demanded per year. Marginal cost is $80 per cubic yard. The Cournot model describes the competition in this market. How much does Kate produce in the Nash equilibrium?
A. 2,000
B. 1,333.33
C. 800
D. 4,000
B. 1,333.33
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The Monetary Control Act of 1980:
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a. True b. False Indicate whether the statement is true or false
If you index Social Security benefits for prices rather than wages, this is likely to
A. increase benefits. B. bring about Social Security bankruptcy earlier. C. prevent Social Security bankruptcy altogether. D. reduce benefits.