In the above figure, the competitive unregulated equilibrium is producing and consuming ________ vaccinations per year at a price of ________

A) 30 thousand; $40
B) 30 thousand; $30
C) 30 thousand; $20
D) 50 thousand; $30

C

Economics

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Tom's opportunity cost of mowing a lawn is 2 loads of laundry. Jen's opportunity cost of mowing a lawn is 1.5 loads of laundry. What is the range of prices for mowing a lawn at which Tom and Jen could both benefit from trade?

Economics

Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Qd = 20,000 - 200P, where P is the price of a cubic yard of concrete and Qd is the number of cubic yards demanded per year. Marginal cost is $80 per cubic yard. The Cournot model describes the competition in this market. How much does Kate produce in the Nash equilibrium?

A. 2,000 B. 1,333.33 C. 800 D. 4,000

Economics