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:

Biracial

A term describing an individual whose ancestry includes two racial backgrounds.

Triracial

Referring to individuals or groups that are descended from three distinct racial backgrounds.

Bonilla-Silva

Eduardo Bonilla-Silva, a sociologist known for his work on racism, color-blind racism, and racial identity.

Racial Hierarchy

A system in which races are ranked and classified above others, leading to unequal treatment and opportunities.