P = 96 - 2Q1 - 2Q2, where Q1 and Q2 are quantities produced by firms 1 and 2, respectively. The firms' marginal cost are identical and given by MCi(Qi) = 2Qi, where i is either firm 1 or firm 2. Based on this information firm 1 and 2's reaction functions are a. Q1 =16-0.33Q2 andQ2 =16-0.33Q1.
b. Q1 =24.5-0.5Q2 andQ2 =24.6-0.5Q1.
c. Q1 = 24.6 - 0.25Q2 and Q2 = 24.6 - 0.25Q1.
d. Q1 =16-0.5Q2andQ2 =16-0.5Q1.

20. to add body to a hearty broth, you may use a. onions. b. pasta. c. cheese. d. water.

Afirm is producing at minimum average total cost with its current plant. draw the firm's long-run average cost curve. label it. draw a point on the lrac curve at which the firm cannot lower its average total cost. draw the firm's short-run average total cost curve that is consistent with the point you have drawn. label it.g

An allergy products superstore buys 6000 of their most popular model of air filters each year. the price of the air filters is $18. the cost of ordering and receiving shipments is $12 per order. accounting estimates annual carrying costs are 20% of the price. the supplier lead time is 2 days. the store operates 240 days per year. each order is received from the supplier in a single delivery. there are no quantity discounts. what is the store’s minimum total annual cost of placing orders & carrying inventory?