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At the profit-maximizing output level y*, where p(y) = 4a - 3by and c(y) = 10 + ay + By then the 4a - 0 profit-maximizing output level is; ]*= 3(b + B) Select one: True False Based on the image below, what type of equilibrium may be used to describe Firm 1 and Firm 2 with respect to y*2 and y*1? yz Firm 1's "reaction curve" y1 = R1 (y2). Firm 1's "reaction curve" y2 = R2(yI). y,* = R,(y2*) and y2* = R2(y," ) y1 y1 Select one: a. Partial Equilibrium O b. General Equilibrium O c. Cournot-Nash equilibrium O d. Firm's Equilibrium A monopolist has a cost function given by c(y) = y' and faces a demand curve given by P(y) - 120 - y. What is the profit-maximizing level of output? Select one: a. None of the above O b. 30 O c. 100 O d. 20In first-degree price discrimination, a monopolist manipulates market price by altering the quantity of product supplied to that market. Select one: True False A natural monopoly arises when the firm's technology has economies of scale small enough for it to supply some of the markets at a lower average total production cost than is possible with more than one firm in the market. Select one: True False If a firm's production function is defined as, y=f(x1 *2,x;), the firm's profit is; II(X,, X,, X] ) = P()) - WX - WX -Wxj. Select one: True False