(Table: Demand Schedule for Gadgets) Look at the Table Demand

question 96

Multiple Choice

(Table: Demand Schedule for Gadgets) Look at the table Demand Schedule for Gadgets.The market for gadgets is dominated by two producers, Margaret and Ray.Each firm can produce gadgets at a marginal cost of $0.The table shows the market demand schedule for gadgets.If these two producers formed a cartel and acted to maximize total industry profits, total industry profit would be:

• A)$10,000.
• B)$5,000.
• C)$2,500.
• D)$1,250.

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