Use the Following to Answer Question

question 205

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.If these two producers formed a cartel,split the production of output equally,and acted to maximize total industry profits,each firm's output would be _____,and each firm's profit would be _____.

• A)500;$2,500
• B)250;$1,250
• C)1,000;$500
• D)1,000;$10,000

Explain the significance of Pavlov's experiments on conditioning.

Recognize the role of experience in permanent behavior changes.

Understand the mechanisms of homogeneity and differentiation within the education system.

Recognize the historical transformations and milestones in the development of education systems.

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Definitions:

Roses

Flowering plants known for their beauty and fragrance, often cultivated for decorative purposes and their symbolic significance in various cultures.

Consumer Surplus

A term often used to refer both to individual consumer surplus and to total consumer surplus.

International Trade

International trade involves the exchange of goods and services between countries, driven by comparative advantages that allow countries to produce goods more efficiently.

Autarky Price

The price of a good in a closed economy that does not engage in international trade, determined solely by domestic supply and demand.