Use the following to answer questions: 
-(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 is zero. Suppose that the two firms are maximizing industry profit and splitting the profit evenly. If firm 1 decides to cheat and increase production by 10 more barrels, the price of crude oil will be:
Definitions:
Temporary Leadership
A leadership role assumed on an interim basis during periods of transition or until a permanent leader is appointed.
Consulting Engagement
An agreement in which a company hires an external party to provide expert advice and services.
Nature of Services
Characteristics that differentiate services from goods, such as intangibility, heterogeneity, perishability, and inseparability of production and consumption.
Additional Data
Extra or supplementary information that provides more context or detail to the primary data collected.
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