Multiple Choice
suppose that Grinch and Grubb go into the wine business in a small country where wine is difficult to grow.The demand for wine is given by p = $360 -.2Q, where p is the price and Q is the total quantity sold.The industry consists of just the two Cournot duopolists, Grinch and Grubb.Imports are prohibited.Grinch has constant marginal costs of $45 and Grubb has marginal costs of $15.How much Grinch's output in equilibrium?
A) 237.50
B) 712.50
C) 950
D) 475
E) 1,425
Correct Answer:
Verified
Correct Answer:
Verified
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