Table 17-9 The Table Shows the Demand Schedule for a Particular Product

question 129

Multiple Choice

Table 17-9
The table shows the demand schedule for a particular product.
-Refer to Table 17-9. Suppose the market for this product is served by two firms that have formed a cartel. What price will the cartel charge in this market if the marginal cost of production is $0?

• A)$6
• B)$8
• C)$10
• D)$12

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Definitions:

Unconditioned Stimulus

A stimulus that naturally triggers a response without any need for learning.

Eyeblink Response

A reflex action of blinking the eyes, often as a protective response to stimuli or as a conditioned reaction.