Use the Following to Answer Question

question 125

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.Suppose that these two producers have formed a cartel,agreed to split production of output evenly,and are maximizing total industry profits.Total industry output would be _____ gadgets.

• A)10
• B)5
• C)50
• D)500

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Definitions:

Radio

A technology and medium for transmitting audio content to a broad audience through electromagnetic waves.

Movies

Visual art forms that use moving images and sound to tell stories or convey messages, often produced for entertainment purposes.

Sultan Of Swat

A nickname for Babe Ruth, an American baseball legend known for his home run-hitting prowess.

Babe Ruth

A legendary American baseball player known for his remarkable hitting prowess and record-setting career in the early 20th century.