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question 205

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Use the following to answer question: Use the following to answer question:   -(Table: Demand Schedule of Gadgets) Use Table: Demand Schedule of 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 these two producers formed a cartel,split the production of output equally,and acted to maximize total industry profits,each firm's output would be _____,and each firm's profit would be _____. A) 500;$2,500 B) 250;$1,250 C) 1,000;$500 D) 1,000;$10,000
-(Table: Demand Schedule of Gadgets) Use Table: Demand Schedule of 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 these two producers formed a cartel,split the production of output equally,and acted to maximize total industry profits,each firm's output would be _____,and each firm's profit would be _____.


Definitions:

Class Exception

A type of object in Java that represents errors or issues that occur during the execution of a program.

Subclasses

Classes that derive from a superclass and can inherit its properties and methods, potentially overriding them.

NoSuchElementException

An exception thrown in Java when one attempts to access an element that does not exist, often in the context of iterators.

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