Question $6(1$ point$)$

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Table: Four$-$Country Oil Production

$\backslash$table$[[$Total Market Output,Market Price$],[600,90],[800,80],[1,000,70],[1,200,60],[1,400,50],[1,600,40],[1,800,30]]$

Reference: Ref $15-5$

$($Table: Four$-$Country Oil Production$)$ Refer to the table. Suppose that four countries are engaged in oil production and agree to produce $400$ units each. For simplicity, assume zero costs so that revenue equals profit. Assume that Country A cheats on the cartel agreement by producing $200$ more barrels than the other countries. What is the new market price when Country A cheats on the agreement?