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-(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 price effect will be a(n) _____ in profit of _____.
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Q47: People may be uninsured for all of
Q68: The marginal revenue curve for a monopolist
Q69: The best example of an artificially scarce
Q80: (Table: Coal Mine Pollution) The table Coal
Q102: (Figure: The Monopolist II) Look at the
Q171: Price takers are individuals in a market
Q201: Consider a perfectly competitive firm in the