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Reference: Ref 30-4 Table: Demand for Crude Oil (Ref 30-4 Table: Demand for Crude Oil) Use Table 30-4: Demand for Crude Oil. The marginal cost
Reference: Ref 30-4 Table: Demand for Crude Oil
(Ref 30-4 Table: Demand for Crude Oil) Use Table 30-4: Demand for Crude Oil. The marginal cost of producing crude oil is zero. If the crude oil industry is a monopoly, the price of crude oil will be _____, the total quantity of crude oil produced by the monopoly will be _____ barrels, and the monopoly will earn revenue equal to _____.
A.$160; 0; $0B.$60; 100; $6,000C.$80; 80; $0D.$80; 80; $6,400
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