Use the Following to Answer Questions

question 132

Multiple Choice

Use the following to answer questions:
-(Table: Demand for Crude Oil) Look at the table Demand for Crude Oil. Assume that the crude oil industry is a duopoly and the marginal and fixed cost of producing crude oil equals zero. Suppose that the two firms are maximizing industry profit and splitting the profit evenly. If both firms decide to cheat and produce 10 more barrels each, firm 1's profit will be _____, and firm 2's profit will be _____.

• A) $3,200; $3,200
• B) $3,200; $3,000
• C) $3,000; $3,200
• D) $3,000; $3,000

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Definitions:

Fear Of Injections

A phobia characterized by extreme anxiety or fear of receiving injections or needles, also known as trypanophobia.

Fear Of Injury

An exaggerated or persistent fear of becoming injured, which can impact a person's daily activities and choices.

Antisocial Personality Disorder

A mental health disorder characterized by a long-term pattern of disregard for, or violation of, the rights of others.

Fear Of Women

Also known as gynophobia, it is an irrational and persistent fear of women.