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.Suppose that these two producers have formed a cartel,agreed to split production of output evenly,and are maximizing total industry profits.If Margaret decides to cheat on the agreement and sell 100 more gadgets,Margaret's price effect will be a(n) _____ in profit of _____.
Definitions:
Price-Elastic Supply
A situation where the quantity supplied of a good changes significantly as a result of changes in its price.
Excise Tax
A tax imposed on specific goods, services, or transactions, often included in the price of products like tobacco, alcohol, and fuel, to generate revenue or discourage consumption.
Price Elasticity
A measure of the responsiveness of the quantity demanded or supplied of a good or service to a change in its price.
Price Elasticity
An indicator of the sensitivity of demand for a product to variations in its price.
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