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

question 140

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.Suppose that these two producers have formed a cartel and are maximizing total industry profits.If Margaret decides to cheat on the agreement and sell 100 more gadgets, the market price of gadgets will be _.

• A)$4
• B)$5
• C)$6
• D)$7

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Definitions:

Receptor Sites

Specific locations on the surface of a cell or within a cell where molecules, such as hormones or neurotransmitters, can bind to elicit a cellular response.

Neurotransmitter

Chemical substances that transmit signals across a chemical synapse, from one neuron to another neuron, muscle cell, or gland cell.

Analogy

A comparison between two things, typically for the purpose of explanation or clarification, showing similarities in some respects.

Action Potentials

Electrical impulses that travel along neurons, allowing them to communicate with each other and with other types of cells.