Table 17-11 Only Two Firms, ABC and XYZ, Sell a Particular Product

question 515

Multiple Choice

Table 17-11
Only two firms, ABC and XYZ, sell a particular product. The table below shows the demand curve for their product. Each firm has the same constant marginal cost of $8 and zero fixed cost.
-Refer to Table 17-11. If ABC and XYZ operate to jointly maximize profits, then what is the price?

• A)$14
• B)$16
• C)$18
• D)$20

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