Table 17-9
The table shows the demand schedule for a particular product.
-Refer to Table 17-9. Suppose the market for this product is served by two firms that have formed a cartel. If the marginal cost of production is $4 and each firm incurs a fixed cost of $6, the combined profit of the cartel will be
A)$6
B)$12
C)$24
D)$32

Question

Table 17-9
The table shows the demand schedule for a particular product. 
-Refer to Table 17-9. Suppose the market for this product is served by two firms that have formed a cartel. If the marginal cost of production is $4 and each firm incurs a fixed cost of $6, the combined profit of the cartel will be
A)$6 
B)$12 
C)$24 
D)$32

Quizplus · Accepted Answer

The Answer of Table 17-9
The table shows the demand schedule for a particular product. 
-Refer to Table 17-9. Suppose the market for this product is served by two firms that have formed a cartel. If the marginal cost of production is $4 and each firm incurs a fixed cost of $6, the combined profit of the cartel will be
A)$6 
B)$12 
C)$24 
D)$32

Table 17-9 The Table Shows the Demand Schedule for a Particular Product