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 and fixed cost of producing crude oil equal 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, the price of crude oil will be:
Definitions:
Marketing Strategy
A long-term plan designed to promote products or services and achieve specific marketing objectives by understanding customer needs and creating a sustainable competitive advantage.
Environmental Force
External factors, such as social, economic, technological, competitive, and regulatory conditions, that influence an organization’s operations and outcomes.
Personalized Marketing
A marketing strategy where promotional messages are tailored to individual consumers based on their preferences and behaviors.
Visual Search
The ability to search for information on the internet or within an application using images instead of text.
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