(Table: Demand for Crude Oil) Look at the Table Demand

question 64

Multiple Choice

(Table: Demand for Crude Oil) Look at the table Demand for Crude Oil.Assume that the crude oil industry is a duopoly and the marginal cost of producing crude oil equals zero.Suppose that the two firms are maximizing industry profit and splitting the profit evenly.If both firms decide to cheat and produce 10 more barrels each, firm 1's profit will be , and firm 2's profit will be ______.

• A)$3,200; $3,200
• B)$3,200; $3,000
• C)$3,000; $3,200
• D)$3,000; $3,000

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Definitions:

Dysfunctional Conflict

A type of conflict that hinders organizational performance, threatens its interests, and is characterized by tension and hostility.

Cognitive Origin

The beginning or source of certain thoughts, beliefs, or knowledge within the mind.

Emotional Origin

The source or cause of an emotion within an individual, often rooted in personal experiences or cognitive assessments.

Social Interactions

The engagement and communication between two or more individuals, influencing each other's feelings, thoughts, and behaviors.