Table 17-4
Only Two Firms, JKL and XYZ, Sell a Particular

question 99

Multiple Choice

Table 17-4
Only two firms, JKL and XYZ, sell a particular product. The following table shows the demand curve for their product. Each firm has the same constant marginal cost of $8 and zero fixed cost.
​
​
$$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Price } \\\text { (Dollars per unit) }\end{array} & \begin{array} { c } \text { Quantity Demanded } \\\text { (Units) }\end{array} & \begin{array} { c } \text { Total Revenue } \\\text { (Dollars) }\end{array} \\\hline 28 & 0 & 0 \\\hline 26 & 5 & 130 \\\hline 24 & 10 & 240 \\\hline 22 & 15 & 330 \\\hline 20 & 20 & 400 \\\hline 18 & 25 & 450 \\\hline 16 & 30 & 480 \\\hline 14 & 35 & 490 \\\hline 12 & 40 & 480 \\\hline 10 & 45 & 450 \\\hline 8 & 50 & 400 \\\hline 6 & 55 & 330 \\\hline 4 & 60 & 240 \\\hline 2 & 65 & 130 \\\hline 0 & 70 & 0 \\\hline\end{array}$$ ​
-Refer to Table 17-4. If this market were perfectly competitive instead of oligopolistic, what would the price be?

• A)$14
• B)$18
• C)$8
• D)$4

---

Definitions:

Treatment Effects

The outcomes or changes resulting from a specific therapeutic intervention or treatment in the health sciences.

Contemporary Combinations

Modern or current mixes or integrations of different elements, theories, styles, or practices.

Theoretical Orientations

Foundational principles or perspectives that guide psychologists' understanding of human behavior and inform their therapeutic approaches.

Syncretism

The combination of different forms of belief or practices, often merging and assimilating aspects from various religions or philosophies.