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.Suppose that these two producers have formed a cartel,agreed to split production of output evenly,and are maximizing total industry profits.If Margaret decides to cheat on the agreement and sell 100 more gadgets,Margaret's profit will be _____,and Ray's profit will be _____.
A) $1,250;$1,250
B) $500;$500
C) $1,400;$1,000
D) $1,000;$1,400
Correct Answer:

Verified
Correct Answer:
Verified
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