At the profit-maximizing output level y*, where p(y) = 4a - 3by and c(y) = 10 + ay + By then the4а - аprofit-maximizing output level is; y*3(b + B)Select one:TrueFalseBased on the image below, what type of equilibrium may be used to describe Firm 1 and Firm 2 withrespect to y*2 and y*1?Y2. Firm 1's "reaction curve" yı = R¡(Y2).Firm 1's "reaction curve" y2 =R2(Y1).y2y,* = R,(y2") and y2* = R2(y,*)yiSelect one:a. Partial EquilibriumO b. General Equilibriumc. Cournot-Nash equilibriumd. Firm's EquilibriumA monopolist has a cost function given by c(y) = y' and facesa demand curve given by P(y) = 120 – y.What is the profit maximizing level of output?Select one:a. None of the aboveb. 30Ос. 100O d. 20

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At the profit-maximizing output level y*, where p(y) = 4a - 3by and c(y)= 10+ ay + By then the 4а - а profit-maximizing output level is; y* 3(b + B) Select one: True False

At the profit-maximizing output level y, where p(y) = 4a - 3by and c(y)= 10+ ay + By then the 4а - а profit-maximizing output level is; y 3(b + B) Select one: True False

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

At the profit-maximizing output level y*, where p(y) = 4a - 3by and c(y) = 10 + ay + By then the
4а - а
profit-maximizing output level is; y*
3(b + B)
Select one:
True
False
Based on the image below, what type of equilibrium may be used to describe Firm 1 and Firm 2 with
respect to y*2 and y*1?
Y2. Firm 1's "reaction curve" yı = R¡(Y2).
Firm 1's "reaction curve" y2 =R2(Y1).
y2
y,* = R,(y2") and y2* = R2(y,*)
yi
Select one:
a. Partial Equilibrium
O b. General Equilibrium
c. Cournot-Nash equilibrium
d. Firm's Equilibrium
A monopolist has a cost function given by c(y) = y' and faces
a demand curve given by P(y) = 120 – y.
What is the profit maximizing level of output?
Select one:
a. None of the above
b. 30
Ос. 100
O d. 20

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