Use the Following to Answer Questions

question 131

Multiple Choice

Use the following to answer questions:
-(Table: Demand Schedule for Gadgets) Look at the table Demand Schedule for 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 profit will be _____, and Ray's profit will be _____.

• A) $1500; $1,000
• B) $900; $600
• C) $1,400; $1,000
• D) $1,000; $1,400

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Definitions:

Extended Traveling Shot

A lengthy movie shot that follows or moves alongside the subject, typically to showcase the setting or advance the narrative.

Orson Welles

An innovative American director, actor, and writer, best known for his film "Citizen Kane," which is frequently lauded as one of the greatest films ever made.

Force of Evil

A 1948 American crime film directed by Abraham Polonsky, known for its noir style and themes of corruption and ethics.

Abraham Polonsky

An American screenwriter and director known for his work in film noir, as well as being blacklisted during the Hollywood blacklist era.