Table 17-11 Only Two Firms, ABC and XYZ, Sell a Particular Product

question 512

Multiple Choice

Table 17-11
Only two firms, ABC and XYZ, sell a particular product. The table below shows the demand curve for their product. Each firm has the same constant marginal cost of $8 and zero fixed cost.
-Refer to Table 17-11. If this market were perfectly competitive instead of oligopolistic, what would the price be?

• A)$18
• B)$14
• C)$8
• D)$0

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