A monopoly's demand function is Q = 60 - P/8.The internal marginal cost is 8Q and the external marginal cost is 4Q.What is the socially efficient output for the firm?

Group of answer choices

24

30

40

12

None of the answers listed is correct.

Two firms compete in a Stackelberg oligopoly.The inverse demand function is P = 15,000 - 4Q.The marginal cost of the leader is $2,000 and for the follower is $3,000.What is the total output for this industry?

Group of answer choices

2,520

2,480

2,250

None of the answers listed is correct.

2,375