Table 17-12
The table shows the town of Driveaway's demand schedule for gasoline. Assume the town's gasoline seller(s) incurs a cost of $2 for each gallon sold, with no fixed cost.
-Refer to Table 17-12. Suppose there are exactly two sellers of gasoline in Driveaway: Amogo and Spilmerica. If Amogo sells 150 gallons and Spilmerica sells 100 gallons, then
A)Amogo's profit is $150 and Spilmerica's profit is $100.
B)Amogo's profit is $100 and Spilmerica's profit is $66.67.
C)Amogo's profit is $75 and Spilmerica's profit is $50.
D)there is an excess supply of gasoline in Driveaway.

Question

Table 17-12
The table shows the town of Driveaway's demand schedule for gasoline. Assume the town's gasoline seller(s) incurs a cost of $2 for each gallon sold, with no fixed cost. 
-Refer to Table 17-12. Suppose there are exactly two sellers of gasoline in Driveaway: Amogo and Spilmerica. If Amogo sells 150 gallons and Spilmerica sells 100 gallons, then
A)Amogo's profit is $150 and Spilmerica's profit is $100. 
B)Amogo's profit is $100 and Spilmerica's profit is $66.67. 
C)Amogo's profit is $75 and Spilmerica's profit is $50. 
D)there is an excess supply of gasoline in Driveaway.

Quizplus · Accepted Answer

The Answer of Table 17-12
The table shows the town of Driveaway's demand schedule for gasoline. Assume the town's gasoline seller(s) incurs a cost of $2 for each gallon sold, with no fixed cost. 
-Refer to Table 17-12. Suppose there are exactly two sellers of gasoline in Driveaway: Amogo and Spilmerica. If Amogo sells 150 gallons and Spilmerica sells 100 gallons, then
A)Amogo's profit is $150 and Spilmerica's profit is $100. 
B)Amogo's profit is $100 and Spilmerica's profit is $66.67. 
C)Amogo's profit is $75 and Spilmerica's profit is $50. 
D)there is an excess supply of gasoline in Driveaway.

Table 17-12 the Table Shows the Town of Driveaway's Demand Schedule for Schedule