Use the Following to Answer Questions

question 19

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 at a marginal cost of $2 and no fixed cost. If the industry were perfectly competitive, the output would be _____ gadgets, and the price would be _____.

• A) 0; $10
• B) 500; $5
• C) 600; $4
• D) 800; $2

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Definitions:

Emissions Offsets Program

A policy or program that allows companies to compensate for their carbon emissions by investing in environmental projects.

Pollutants

Substances or energies introduced into the environment that cause harm or discomfort to organisms, including humans, or damage the natural resources.

Emissions

The release of pollutants into the environment, typically referring to gases expelled by vehicles and industrial processes.

Harm

Damage or injury that affects someone or something in a negative way, often used in legal and ethical discussions.