Use the Following to Answer Questions: Table: Three-Country Oil Production

Multiple Choice

Use the following to answer questions: Table: Three-Country Oil Production $$\begin{array} { | c | c | } \hline \text { Total Market Output } & \text { Market Price } \\\hline 600 & 90 \\\hline 800 & 80 \\\hline 1,000 & 70 \\\hline 1,200 & 60 \\\hline 1,400 & 50 \\\hline 1,600 & 40 \\\hline 1,800 & 30 \\\hline\end{array}$$
-(Table: Three-Country Oil Production) Refer to the table. Suppose that three countries are engaged in oil production. For simplicity, assume zero costs so that revenue equals profit. If the countries create a cartel and agree to mimic monopoly-like behavior, what level of output would each firm produce?

A) 1,200
B) 400
C) 200
D) 700