Multiple Choice
A particular market is served by two firms. The market demand curve is given by p = 200 - y. Each firm incurs a constant cost per unit of $50. The Cournot profit function for firm 1 in this market is given by:
A) 200y1 - y 2 - 40y1.
B) 150y1 - y1y2 - y 2 . 1 1
C) 150y1 - y2 - y 2 .
D) 200y1 - y1y2 - y 2 . 1 1
Correct Answer:
Verified
Correct Answer:
Verified
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