Table 17-10
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 17-10.If there are exactly five sellers of gasoline in Driveaway and if they collude,then which of the following outcomes is most likely?
A) Each seller will sell 20 gallons, charge a price of $6, and earn a profit of $80.
B) Each seller will sell 30 gallons, charge a price of $5, and earn a profit of $90.
C) Each seller will sell 40 gallons, charge a price of $4, and earn a profit of $120.
D) Each seller will sell 50 gallons, charge a price of $3, and earn a profit of $50.
Correct Answer:
Verified
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