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Use the following to answer question: 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.Suppose that these two producers have formed a cartel,agreed to split production of output evenly,and are maximizing total industry profits.Each firm's output would be _____,and each firm's profit would be _____. A) 500;$2,500 B) 200;$800 C) 1,000;$500 D) 1,000;$10,000
-(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.Suppose that these two producers have formed a cartel,agreed to split production of output evenly,and are maximizing total industry profits.Each firm's output would be _____,and each firm's profit would be _____.


A) 500;$2,500
B) 200;$800
C) 1,000;$500
D) 1,000;$10,000

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