31 Consider a Cournot duopoly with the following inverse demand function: P = 600 - 3Q1 - 3Q2. The firms' marginal costs are identical and are given by MCi(Q;) = 6Qi. Based on this information, firm 1 and 2's reaction functions are Multiple Choice points 01:17:47 O "1(Q2) = 99 - 0.501 and r2(Q1) = 99 - 0.5Q2. O 1(Q2) = 98 - 0.25Q2 and r2(Q1) = 98 - 0.25Q1. O 1(Q2) = 99 - 0.5Q2 and r2(Q1) = 99 - 0.5Q1. O 1(@2) = 110 - 0.5Q2 and r2(Q1) = 110 - 0.5Q1.32 Consider a Cournot duopoly with the following inverse demand function: P = 400 - 3Q1 - 3Q2 . The firms' marginal costs are identical and are given by MC;(Q;) = 2Qi. Based on this information, firm 1 and 2's marginal revenue functions are Multiple Choice points 01:17:42 O MR1(Q1.Q2) = 400 - 6Q1 - 3Q2 and MR2(Q1,Q2) = 400 - 3Q1 - 6Q2. O MR1(Q1,Q2) = 200 - 6Q2 and MR2(Q1.Q2) = 200 - 3Q1. O MR1(Q1,Q2) = 200 - 301 - 3Q2 and MR2(Q1,Q2) = 200 - Q1 - 3Q2. O MR1(Q1,Q2) = 400 - 6Q1 - 6Q2 and MR2(Q1,Q2) = 400 - 6Q1- 6Q2.Consider a Stackelberg duopoly with the following inverse demand function: P = 200 - 8Q1 - 8Q2. The firms' marginal costs are identical and are given by MC; = 6. Based on this information, the Stackelberg follower's marginal revenue function is 33 Multiple Choice points 8 01:17:38 O MR2(Q1,Q2) = 200 - 8Q1 - 16Q2 . O MR2(Q1,Q2) = 200 - 8Q1 - 8Q2. O MR2(Q1,Q2) = 200 - 16Q1 - 8Q2. O MR2(Q1,Q2) = 200 - 16Q1 - 16Q2.34 Consider a Stackelberg duopoly with the following inverse demand function: P = 800 - 4Q1 - 4Q2. The firms' marginal costs are identical and are given by MCj = 160. Based on this information, the Stackelberg follower's reaction function is Multiple Choice points 01:17:29 O Q2 = 80 - 0.5Q2. O Q2 = 40 - 0.5Q2. O Q2 = 80 - 0.5Q1. O Q2 = 40 - 0.5Q1.Consider two firms competing to sell a homogeneous product by setting price. The inverse demand curve is given by P = 40 - Q . Firm 1 has MC1(Q1) = 2 and firm 2 has MC2(Q2) = 2. Based on this information, we can conclude that the market price will 35 be points Multiple Choice 01:17:25 O $2.50 and firm 1 will produce 37.5 units and firm 2 will produce O units. O $2 and firm 1 will produce 38 units and firm 2 will produce 0 units. O $2.25 and each firm will produce 19 units. O $2 and each firm will produce 19 units