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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.If these two producers formed a cartel,agreed to split production of output evenly,and acted to maximize total industry profits,total industry output would be _____,and the price would be _____. A) 1,000;$10 B) 100;$9 C) 400;$6 D) 500;$5
-(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 output would be _____,and the price would be _____.


Definitions:

Pages

Refers typically to individual sheets or digital screens of content within a document, book, website, or software application, though not a statistical term.

Flu Vaccine

A vaccine that protects against the influenza virus, often updated annually to combat the most common strains.

Probability

A measure of the likelihood that an event will occur.

Salesperson

An individual who sells goods or services, often working on commission or for an organization.

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