Reference: Ref 15-3 (Table: Three-Country Oil Production) Refer to the Table

question 110

Multiple Choice

Reference: Ref 15-3 (Table: Three-Country Oil Production) Refer to the table. Suppose that three countries are engaged in oil production. For simplicity, assume zero costs so that revenue equals profit. Assume that Country A cheats on the cartel agreement by producing 200 more barrels than the other two countries. What is the resultant profit earned by Country A?

• A) 70,000
• B) 6,000
• C) 24,000
• D) 30,000

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Definitions:

Organizational Instruction

Guidelines or directives issued by an organization to guide actions and decisions of its members or employees.

Socialization

Socialization is the process by which individuals learn and adopt the norms, values, behaviors, and social skills appropriate to their society or culture.

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the study of past events, particularly in human affairs.

Discriminatory Behavior

Actions that treat individuals unfairly or prejudicially based on certain characteristics, such as race, age, or gender.