Suppose the demand in a certain duopoly market with homogenous goods is Qd = 8,000 - 100P. The two firms in the market are firm V and firm W, and the marginal cost of producing the goods in question is equal to $25. Which of the following describes the Nash equilibrium in this market?

In the game in Scenario 13.17, who moves first?

A) Potential Entrant B) Incumbent Monopoly C) It's a sequential game; firms alternate moving first. D) Both players move simultaneously. E) Who moves first is decided by the equilibrium.

If the government provides a subsidy in one industry and raises the tax revenue by taxing another industry, would, other things equal, cause welfare costs in both industries

a. True b. False Indicate whether the statement is true or false