Use the Following to Answer Questions

question 132

Multiple Choice

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 and fixed 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:

Emotional Investment

The degree of emotional engagement and commitment stakeholders or team members have in the success of a project.

Typology

The study and classification of types or categories, often used to organize concepts or objects based on shared characteristics.

Shenhar And Dvir

Scholars who developed models and frameworks for project management, including the strategic project leadership model.

External Attributes

Characteristics of a system or product that can be observed and measured by users or other external stakeholders.