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 Alice produce in the Nash equilibrium?

A. 2,000

B. 1,333.33

C. 800

D. 4,000


B. 1,333.33

Economics

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Economics

Suppose we are plotting the relationship between the unemployment rate and the growth rate of real GDP

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Economics

The relationship between real GDP and potential GDP is that

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Economics

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Economics