Suppose that the market demand curve for bean sprouts is given by P = 1,280 - 4
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Question:
Suppose that the market demand curve for bean sprouts is given by P = 1,280 - 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 $80 per unit of output. In equilibrium, total output by the two firms will be
Group of answer choices
a.300.
b.225.
c.150.
d.75.
e.37.50.
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