Suppose a market is described by demand P = 100 - 20 and there are two firms engaged in Stackelberg Competition each with a MC = 10 What is the consumer surplus in this market (Round market output to the nearest integer)? 1

Economics Nov 04, 2020

Suppose a market is described by demand P = 100 - 20 and there are two firms engaged in Stackelberg Competition each with a MC = 10 What is the consumer surplus in this market (Round market output to the nearest integer)?

1. 828

2. 1916

3. 1156

4. 1811

P = 100 - 2Q

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