Use the Following to Answer Questions

question 76

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 with no marginal cost or fixed cost. Suppose that these two producers have formed a cartel and are maximizing total industry profits and splitting the production of output evenly between themselves. If Margaret decides to cheat on the agreement and sell 100 more gadgets, how many gadgets will she sell?

• A) 0
• B) 250
• C) 350
• D) 600

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Definitions:

Distraction

An event or object that draws someone's attention away from the task at hand or their intended focus.

Active Listening

The act of concentrating on the true meaning of what others are saying.

Sensing

The way listeners pay attention to the signals sent from the speaker.

Responding

The way active listeners provide feedback to the speaker.