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

question 139

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. What is the socially efficient quantity of the product?

• A)25
• B)35
• C)50
• D)70

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Definitions:

Tendonitis

Inflammation of a tendon, typically caused by overuse, leading to pain and discomfort in the affected area.

Sternocleidomastoid Muscles

The paired muscles in the neck that facilitate head movement and play a role in respiration; they run from the sternum and clavicle to the mastoid process of the temporal bone.

Torticollis

A condition also known as 'twisted neck,' where the head is tilted due to tightness or shortness of the neck muscles on one side.

Elbow Joint

A hinge joint that connects the forearm to the upper arm, allowing for the flexion and extension of the forearm.