Use the Following to Answer Questions: Table: Oil Output -(Table: Oil Output) Refer to the Table

question 140

Multiple Choice

Use the following to answer questions: Table: Oil Output $$\begin{array} { | l | l | c | c | } \hline & & \begin{array} { c } \text { Iran National Oil } \\\text { (profit in millions) }\end{array} & { } \\\hline & & \text { Restrict Oil Output } & \text { Expand Oil Output } \\\hline \text { Iraq National Oil } & \text { Restrict Oil Output } & \$ 78 , \$ 78 & \$ 60 , \$ 89 \\\hline \text { (profit in millions) } & \text { Expand Oil Output } & \$ 89 , \$ 60 & \$ 65 , \$ 65 \\\hline\end{array}$$
-(Table: Oil Output) Refer to the table. If both countries abide by the cartel agreement (i.e., not cheat) :

• A) each country earns $78.
• B) each country earns $65.
• C) Iraq earns $89 and Iran earns $60.
• D) Iraq earns $60 and Iran earns $89.