Use the Following to Answer Question

question 94

Multiple Choice

Use the following to answer question:
-(Table: Demand for Crude Oil) Use Table: Demand for Crude Oil.Assume that the crude oil industry is a duopoly and the marginal cost of producing crude oil is zero.If the two firms collude to share the market equally,the price of crude oil will be _____,firm 1 will produce _____ barrels,firm 2 will produce _____ barrels,and each firm will earn revenue equal to _____.

• A)$80;80;80;$6,400
• B)$80;40;40;$3,200
• C)$60;50;50;$3,000
• D)$40;60;60;$2,400

Understand the calculation of net cash flow from operating activities using the indirect method.

Identify and analyze the treatment of gains and losses from the sale of fixed assets in the statement of cash flows.

Understand the classification and reporting of cash flows from investing and financing activities.

Apply the indirect method to calculate cash flows from operating activities given changes in current assets and liabilities.