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

question 187

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 this market were perfectly competitive instead of oligopolistic, what would the price be?

• A) $14
• B) $18
• C) $8
• D) $0

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Definitions:

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A period marked by a significant increase in the consumption and variety of goods and services, reflecting changes in societal attitudes and economic conditions.

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The period from January 1, 1701, through December 31, 1800, marked by significant global changes, including the Enlightenment and the rise of industrialization.

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