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

question 92

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 industry output is 350 gadgets produced by Margaret and 250 gadgets produced by Ray and if Ray decides to increase output by 100, industry price will be:

• A)$3.
• B)$2.
• C)$1.
• D)$0.

---

Definitions:

Need-Based Theories

Psychological theories that focus on understanding human needs and how they influence behavior, particularly in the context of motivation.

Agency Theory

An economic theory that examines the relationship between principals (owners) and agents (executives), focusing on the conflicts of interest that may arise.

Agents

Individuals or entities authorized to act on behalf of others, in business or legal affairs, to achieve specified goals.

Information

Data processed, organized, or structured in a way that gives it context and relevance, allowing for decision-making.