Table 17-9 Only Two Firms, Acme and Pinnacle, Sell a Particular Product

question 376

Multiple Choice

Table 17-9
Only two firms, Acme and Pinnacle, sell a particular product. The table below shows the demand curve for their product. Each firm has the same constant marginal cost of $10 and zero fixed cost.

-Refer to Table 17-9.If this market were perfectly competitive instead of oligopolistic,what quantity would be produced?

• A) 1400
• B) 1300
• C) 1200
• D) 1100

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Definitions:

Centralized Inventory

An approach in inventory management where all stock is kept in a single location, simplifying operations and potentially reducing costs.

Lead Times

The amount of time that passes from the start of a process until its completion.

Slotting

The activity of determining the most efficient placement for goods within a warehouse to optimize picking and storage.

Materials-Handling

The oversight of transporting, securing, storing, and regulating materials and items from the start of production, through storage and distribution, to the end use and disposal phase.