Table 17-11 Only Two Firms, ABC and XYZ, Sell a Particular Product

Multiple Choice

Table 17-11
Only two firms, ABC and XYZ, sell a particular product. The table below shows the demand curve for their product. Each firm has the same constant marginal cost of $8 and zero fixed cost.
-Refer to Table 17-11. If ABC and XYZ operate to jointly maximize profits, then what is the price?

A) $14
B) $16
C) $18
D) $20