In Problem 4, suppose that the market demand curve for bean sprouts is given by P = 1,660 - 4Q, where P is the price and Q is total industry output. Suppose that the industry has two firms, a Stackleberg leader and a follower. Each firm has a constant marginal cost of $60 per unit of output. In equilibrium, total output by the two firms will be
A) 400.
B) 300.
C) 100.
D) 200.
E) 50.

Question

In Problem 4, suppose that the market demand curve for bean sprouts is given by P = 1,660 - 4Q, where P is the price and Q is total industry output. Suppose that the industry has two firms, a Stackleberg leader and a follower. Each firm has a constant marginal cost of $60 per unit of output. In equilibrium, total output by the two firms will be 
A) 400.
B) 300.
C) 100.
D) 200.
E) 50.

Quizplus · Accepted Answer

The Answer of In Problem 4, suppose that the market demand curve for bean sprouts is given by P = 1,660 - 4Q, where P is the price and Q is total industry output. Suppose that the industry has two firms, a Stackleberg leader and a follower. Each firm has a constant marginal cost of $60 per unit of output. In equilibrium, total output by the two firms will be 
A) 400.
B) 300.
C) 100.
D) 200.
E) 50.

In Problem 4, Suppose That the Market Demand Curve for Bean