Table 17-10 The Table Shows the Demand Schedule for a Particular Product

Multiple Choice

Table 17-10
The table shows the demand schedule for a particular product.
-Refer to Table 17-10. Suppose the market for this product is served by two firms who have formed a cartel and are colluding to set the price and quantity in this market. If the marginal cost to produce this product is constant at $40 per unit and there is no fixed cost, then what will the combined profit of the cartel be?

A) $15,000
B) $24,000
C) $27,000
D) $63,000