Table 17-4Only two firms, ABC and XYZ, sell a particular product. The following table shows the demand curve for their product.Each firm has the same constant marginal cost of $8 and zero fixed cost.PriceQuantityTotalDemandedRevenue(Dollars perunit)(Units)(Dollars)2826130241024022153302020400182545016304801435490124048010454508504005533046024026513070Refer to Table 17-4. If this market were perfectly competitive instead of oligopolistic, what quantity would beproduced?а. 25b. 50С. 35d. 70O O O O

Market power expresses the ability of a business unit in keeping its market price above the level…

Table 17-4 Only two firms, ABC and XYZ, sell a particular product. The following table shows the demand curve for their produc Each firm has the same constant marginal cost of $8 and zero fixed cost. Price Quantity Total Demanded Revenue (Dollars per unit) (Units) (Dollars) 28 26 5 130 24 10 240 22 15 330 20 20 400 18 25 450 16 30 480 14 35 490 12 40 480 10 45 450 8 50 400 6. 55 330 4 60 240 65 130 70 Refer to Table 17-4. If this market were perfectly competitive instead of oligopolistic, what quantity would be produced? а. 25 b. 50 с. 35 d. 70

Table 17-4 Only two firms, ABC and XYZ, sell a particular product. The following table shows the demand curve for their produc Each firm has the same constant marginal cost of $8 and zero fixed cost. Price Quantity Total Demanded Revenue (Dollars per unit) (Units) (Dollars) 28 26 5 130 24 10 240 22 15 330 20 20 400 18 25 450 16 30 480 14 35 490 12 40 480 10 45 450 8 50 400 6. 55 330 4 60 240 65 130 70 Refer to Table 17-4. If this market were perfectly competitive instead of oligopolistic, what quantity would be produced? а. 25 b. 50 с. 35 d. 70

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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