Two firms both produce leather boots. The inverse demand equation is given by P = 280 Q, where Pis the price of boots in USD/pair and Q is quantity of boots in million pair. The cost function is given by: C(Q) = 40Q. If the two firms are Stackelberg oligopolists), the price is equal to: 105 85

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Two firms both produce leather boots. The inverse demand equation is given by P = 280 - Q, where
P is the price of boots in USD/pair and Q is quantity of boots in million pair. The cost function is
given by: C(Q) = 40Q. If the two firms are Stackelberg oligopolists), the price is equal to:
O 105
O 85
O 100
O 65
Transcribed Image Text:Two firms both produce leather boots. The inverse demand equation is given by P = 280 - Q, where P is the price of boots in USD/pair and Q is quantity of boots in million pair. The cost function is given by: C(Q) = 40Q. If the two firms are Stackelberg oligopolists), the price is equal to: O 105 O 85 O 100 O 65
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