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.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
Correct Answer:

Verified
Correct Answer:
Verified
Q83: The government agency in the United States
Q84: Use the following to answer question: <img
Q85: Use the following to answer question: <img
Q86: (Scenario: Payoff Matrix for Two Firms)Use Scenario:
Q87: Use the following to answer question:<br>Figure: Payoff
Q89: Use the following to answer question:<br>Figure: Pricing
Q90: Use the following to answer question:<br>Figure: Pricing
Q91: Use the following to answer question: <img
Q92: OPEC is a(n)_ cartel that includes _
Q93: The first trust in the United States