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. What is Alice's marginal revenue function?
A. MR = 100 - 0.005QK - 0.01QA
B. MR = 100 - 0.005QA - 0.005QK
C. MR = 100 - 0.005QA - 0.01QK
D. MR = 100 - 0.005QK - 0.005QA
A. MR = 100 - 0.005QK - 0.01QA
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Refer to Figure 11-6. In the figure above which letter represents the marginal cost curve?
A) A B) B C) C D) D
Regarding IBFs, which of the following is correct?
A) not subject to reserve requirements B) not subject to interest rate regulations C) were created to permit U.S. banking offices to compete with offshore banks without having to use an offshore banking office D) All of the above.
Julio makes wine and beer. Last year he made 20 bottles of wine and 20 cases of beer. If the price of grapes goes down (making wine cheaper to make), Julio will be able to make the same amount of wine and more beer
a. True b. False Indicate whether the statement is true or false