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Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Q = 20,000 - 200Pwhere Pis the price of a cubic yard

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Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Q" = 20,000 - 200Pwhere Pis the price of a cubic yard of concrete and Q" is the number of cubic yards demanded per year. Marginal cost is $80 per cubic yard. Suppose Kate enters the market first and chooses her output before Alice. Given market demand, what is the market price per cubic yard? Multiple Choice O $90 O $80 O $85 O $95

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