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

question 232

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 quantity would be produced?

• A)25
• B)35
• C)50
• D)70

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Definitions:

Pulmonary Veins

The veins that return oxygenated blood from the lungs to the left atrium of the heart, unlike most veins which carry deoxygenated blood.

Blood Pressure

The force exerted by circulating blood upon the walls of blood vessels, measured as systolic and diastolic pressures.

Male

Referring to the sex that produces small, mobile gametes (sperm) in animals and pollen in plants, typically associated with specific physiological and anatomical characteristics.

Typical

Serving as a characteristic example of something; standard or usual.