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Reference: Ref 15-3 (Table: Three-Country Oil Production) Refer to the Table

Question 24

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Reference: Ref 15-3 (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. Assume that Country A cheats on the cartel agreement by producing 200 more barrels than the other two countries. What is the new quantity sold by Country A? A) 900 B) 400 C) 1,400 D) 600 Reference: Ref 15-3 (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. Assume that Country A cheats on the cartel agreement by producing 200 more barrels than the other two countries. What is the new quantity sold by Country A?


A) 900
B) 400
C) 1,400
D) 600

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