Table 17-7

question 404

Multiple Choice

Table 17-7. The table shows the demand schedule for a particular product.

-Refer to Table 17-7.Suppose the market for this product is served by two firms who have formed a cartel and are colluding to set the price and quantity in this market.If the marginal cost to produce this product is constant at $2 per unit,then what price will the cartel set in this market?

• A) $4
• B) $5
• C) $6
• D) $7

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