Use the Following to Answer Question

question 221

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.

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Definitions:

Directed Forgetting

A psychological process in which individuals intentionally try to forget information, revealing the active control people have over their memory.

Eyewitness Testimony

Evidence provided by people who witnessed a particular event or crime, which can be highly influential but sometimes unreliable.

Motivated Forgetting

A psychological theory suggesting individuals may forget unwanted information as a mechanism to deal with emotional distress or conflict.

Mnemonics

Memory aids, especially those techniques that use vivid imagery and organizational devices to enhance the recall of information.