Suppose duopolists face the market inverse demand curve P = 100 - Q, Q = q1 + q2, and both firms have a constant marginal cost of 10. If firm 1 is a Stackelberg leader and firm 2's best response function is q2 = (100 - q1)/2, at the Nash-Stackelberg equilibrium firm 2's output is

Unemployment insurance is usually available to workers in ________ for a shorter period of time than it is in ________

A) the United States; Canada B) Canada; some Western European countries C) Canada and some Western European countries; the United States D) some Western European countries; the United States

The economy is undergoing a recession that has reduced consumers' incomes. In the smartphone market, this will most likely lead to

A. an increase in price and a decrease in quantity. B. an increase in price and an increase in quantity. C. a decrease in price and a decrease in quantity. D. a decrease in price and an increase in quantity.