=+3. The market for olive oil in New York City is controlled by two families, the Sopranos and the Contraltos. Both families will ruthlessly eliminate any other family that attempts to enter the New York City olive oil market. The marginal cost of producing olive oil is constant and equal to $40 per gallon. There is no fixed cost. The accompanying table gives the market demand schedule for olive oil.

Price of olive oil (per gall | Quantity of olive oil dem_ on) anded (gallons)

$100 1,000 90 1,500 80 2,000 70 2,500 60 3,000 50 3,500 40 4,000 30 4,500 20 5,000 10 5,500