Table 17-4 the Table Shows the Town of Mauston's Demand Schedule for Schedule

question 289

Multiple Choice

Table 17-4
The table shows the town of Mauston's demand schedule for gasoline. For simplicity, assume the town's gasoline seller(s) incur no costs in selling gasoline.
-Refer to Table 17-4. If there are exactly four sellers of gasoline in Mauston and if they collude, then which of the following outcomes is most likely?

• A)Each seller will sell 62.5 gallons and charge a price of $1.25.
• B)Each seller will sell 62.5 gallons and charge a price of $5.
• C)Each seller will sell 100 gallons and charge a price of $2.
• D)Each seller will sell 250 gallons and charge a price of $0.

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Definitions:

Interdependent

Mutual dependence between things or people, where each is affected by or relies on the other.

Socialization Roles

The behaviors and expectations that are learned by individuals to fit into their society, including roles based on their age, gender, and social position.

Active

Being engaged in action or exerting power or force; not passive.

Social Development

The process by which individuals acquire the values, behaviors, and skills necessary to function effectively in society.