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 700, each firm's profits will be _____ than they would be at the output of 500, which maximizes industry profit.
Definitions:
Supply Chain Management
The coordination and management of activities involved in making and delivering products from raw materials to final customers.
Value Chain Management
The process of managing activities and processes to add value to a product or service through efficient supply chain operations.
Customer Relationship Management
A strategy for managing an organization's interactions with current and future customers, typically using data analysis to study large amounts of information.
Break-even Analysis
A financial calculation to determine the point at which revenue received equals the costs associated with receiving the revenue, marking the point of no profit and no loss.
Q24: (Figure: Firms in Monopolistic Competition) Look at
Q26: (Figure: Monopoly Profits in Duopoly) Given the
Q71: (Table: Demand Schedule for Gadgets) Look at
Q103: A brand name is owned by a
Q160: Because monopoly firms are price setters:<br>A) they
Q167: (Figure: Monopoly Model) Look at the figure
Q168: (Figure: PPV) Look at the figure PPV,
Q179: (Figure: Demand, Revenue, and Cost Curves) Look
Q229: (Figure: Monopoly Model) Look at the figure
Q266: (Figure: Monopoly Profits in Duopoly) If the