Question: Table 18-3 The table shows the demand schedule for a particular product. Quantity Demanded (Units) Price (Dollars per unit) 0 16 1 14 2 12

Table 18-3 The table shows the demand schedule for a particular product. Quantity Demanded (Units) Price (Dollars per unit) 0 16 1 14 2 12 3 10 4 8 5 6 6 4 7 2 8 0 Refer to Table 18-3. Suppose the market for this product is served by two firms that have formed a cartel. What price will the cartel charge in this market if the marginal cost of production is $4? a. $8 b. $10 c. $6 d. $12

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