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 quantity would be produced?
Definitions:
Deductive Reasoning
A logical process where a conclusion is based on the concordance of multiple premises that are generally assumed to be true.
Ultimate Attribution Error
A bias in which positive behaviors by out-group members are attributed to situational factors, while negative behaviors are attributed to their character.
Group-Enhancing Bias
A cognitive bias that leads people to view their own group more favorably compared to others.
Group Production Blocking
A process during collaborative work where the flow of ideas or productivity is impeded because only one group member can contribute at a time.
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