Use the Following to Answer Question

question 25

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 and fixed cost of producing crude oil equal zero.Suppose that the two firms are maximizing industry profit and splitting the profit evenly.If both firms decide to cheat and produce 10 more barrels each,the price of crude oil will be:

• A)$160.
• B)$80.
• C)$70.
• D)$60.

---

Definitions:

Homeschooled Students

Children who receive their education from home or a non-traditional setting, often taught by parents or tutors, rather than attending public or private school.

Academic Achievement

Pertains to the extent to which a student has attained their short or long-term educational goals, often measured by grades, GPA, or standardized tests.

Public School Students

Individuals enrolled in schools that are funded and operated by government agencies.

Early College High Schools

Institutions in which students earn a high school diploma and two years of credit toward a bachelor’s degree.