Since MC(y) is the derivative of c(y), c(y) must be the integral of MC(y). Select one: O True O False on Suppose that the market inverse demand function is pfyr) = 80 – yr and the firms' total cost functions are c, (y) = vž and ca(y2) = 10y2 + y3. %3D What is firm 1's best response to y2? 2 on O a. None of the above 80 1 O b. y2 = R2(y1) %3D 10 70-Y1 O. 2 = R2(Y1) : %3D 10 d. Y2 = R2(Y1) 70- %3D

Since MC(y) is the derivative of c(y), c(y) must be the integral of MC(y). Select one: O True O False on Suppose that the market inverse demand function is pfyr) = 80 – yr and the firms' total cost functions are c, (y) = vž and ca(y2) = 10y2 + y3. %3D What is firm 1's best response to y2? 2 on O a. None of the above 80 1 O b. y2 = R2(y1) %3D 10 70-Y1 O. 2 = R2(Y1) : %3D 10 d. Y2 = R2(Y1) 70- %3D

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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