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The Demand for Y Is Given by Y = 256/p2

Question 21

Multiple Choice

The demand for y is given by y = 256/p2.Only two firms produce y.They have identical costs c(y) = y2.If they agree to collude and maximize their joint profits, how much output will each firm produce?


A) 2
B) 5
C) 10
D) 12
E) 16

Correct Answer:

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