Multiple Choice
Use the following to answer question:
-(Table: Demand Schedule of Gadgets) Use Table: Demand Schedule of Gadgets.The market for gadgets consists of two producers,Margaret and Ray.Each firm can produce gadgets with no marginal cost or fixed cost.If these two producers formed a cartel and acted to maximize total industry profits,total industry output would be _____,and the price would be _____.
A) 1,000;$10
B) 100;$9
C) 400;$6
D) 500;$5
Correct Answer:

Verified
Correct Answer:
Verified
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