Table 17-9 The Table Shows the Demand Schedule for a Particular Product

Multiple Choice

Table 17-9
The table shows the demand schedule for a particular product.
-Refer to Table 17-9. Suppose the market for this product is served by two firms that have formed a cartel. If the marginal cost of production is $4 and each firm incurs a fixed cost of $6, the combined profit of the cartel will be

A) $6
B) $12
C) $24
D) $32