Use the Following to Answer Questions

question 198

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. If industry output is 350 gadgets produced by Margaret and 250 gadgets produced by Ray and if Ray decides to increase output by 100, Margaret's profit will be _____ and Ray's profit will be _____.

• A) $1,750; $1,250
• B) $1,250; $1,250
• C) $1,400; $1,000
• D) $1,050; $1,050

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Definitions:

Longitudinal Study

Research that follows the same subjects over a period of time, often many years, to observe changes and developments.

Measuring Personality

The process or methods used to quantify individuals' traits, characteristics, or behaviors that make up their personality.

California Schoolchildren

Pupils attending school in the state of California; this term may be used in studies focusing on demographics, education, or health within this specific group.

Longitudinal Study

A research design that involves repeated observations of the same variables over short or long periods of time to detect changes, patterns, or developments.