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 at a marginal cost of $2 and no fixed cost.If these two producers formed a cartel,agreed to split production of output evenly,and acted to maximize total industry profits,total industry profit would be:
A) $10,000.
B) $5,000.
C) $2,500.
D) $1,600.
Correct Answer:

Verified
Correct Answer:
Verified
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