Business, 25.11.2021 06:20 maddo36

Demand for Crude Oil. Assume that the crude oil industry is a duopoly and the marginal cost of producing crude oil is zero. If the two firms collude to share the market equally, the price of crude oil will be , firm 1 will produce barrels, firm 2 will produce barrels, and each firm will earn revenue equal to . $40; 60; 60; $2,400 $80; 80; 80; $6,400 $80; 40; 40; $3,200 $60; 50; 50; $3,000

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Demand for Crude Oil. Assume that the crude oil industry is a duopoly and the marginal cost of produ...

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