In the above figure, what are the equilibrium price and quantity?
A. $10 and 200 units
B. $40 and 200 units
C. $30 and 100 units
D. $50 and 100 units
Answer: C
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What will be an ideal response?
Information in a firm's financial statements
A) assists investors who are considering buying the firm's stock. B) helps the firm's managers make decisions. C) guide resource allocation in the economy. D) all of the above
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 profit does each producer earn in the Nash equilibrium?
A. $115,555.56 B. $10,666.67 C. $8,888.89 D. $16,000
The market demand for MP3 players is p = 50 - 0.5Q, and the marginal cost for an MP3 player is $10. If Nick receives 60% of the total profit, then
A) Nick will produce 50 MP3 players. B) Nick receives $500 as profit. C) total profit is $800. D) the efficiency in production is not achieved.