Use the Following to Answer Questions

question 289

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, agreed to split production of output evenly and are maximizing total industry profits. Total industry output would be _____ gadgets.

• A) 10
• B) 5
• C) 50
• D) 500

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Definitions:

Monitor

The act of closely observing or tracking activities, changes, or performances, often using tools or software, for purposes like security, quality control, or data collection.

Owned Media

Media channels that a brand has full control over, such as their websites, blogs, or social media profiles, where they can publish and distribute content directly.

Earned Media

Publicity gained through promotional efforts other than paid advertising, often as a result of word-of-mouth or viral communication.

Paid Media

A form of marketing that involves paying for space to promote a product, service, or brand, such as ads on social media, search engines, or websites.