Table 17-30
Imagine a small town in which only two residents, Abby and Brad, own wells that produce safe drinking water. Each week Abby and Brad work together to decide how many gallons of water to pump. They bring water to town and sell it at whatever price the market will bear. To keep things simple, suppose that Abby and Brad can pump as much water as they want without cost so that the marginal cost is zero. The weekly town demand schedule and total revenue schedule for water is shown in the table below: 
-Refer to Table 17-30. Briefly explain why each duopolist earns a lower profit at the Nash equilibrium than if they cooperated to produce the monopoly output.
Definitions:
Crime Rates
A measure of the number of reported crimes in a given area, often expressed per 100,000 inhabitants, used to assess and compare levels of crime over time or between regions.
Cross-Cultural Comparison
The comparison of different cultural practices, beliefs, and experiences to understand similarities and differences across societies.
Income Levels
Categories of income range that differentiate individuals, households, or other groups based on the amount of money earned from wages, investments, and other sources.
Quantitative
Concerned with, gauging, or determined by the volume of something instead of its merit.
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