Use the Following to Answer Question

Use the following to answer question:
-(Table: Demand for Crude Oil) Use Table: 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 _____.

A) $80;80;80;$6,400
B) $80;40;40;$3,200
C) $60;50;50;$3,000
D) $40;60;60;$2,400

Correct Answer:

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