Use the Following to Answer Question

question 257

Multiple Choice

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 industry output is 350 gadgets produced by Margaret and 250 gadgets produced by Ray and if Ray decides to increase output by an additional 100 gadgets,Margaret's profit will be _____,and Ray's profit will be _____.

• A)$1,750;$1,250
• B)$1,250;$1,250
• C)$1,400;$1,000
• D)$1,050;$1,050

---

Definitions:

Boxplot

A visual representation of the distribution of data points based on a five-number summary (minimum, first quartile, median, third quartile, and maximum).

Histogram

A graphical representation of data using bars of different heights to show the distribution of values.

Distribution

In statistics, the pattern or spread of values taken by a particular variable, indicating how often each value occurs.

Boxplot

A graphical representation that displays the distribution of a dataset based on a five-number summary: minimum, first quartile, median, third quartile, and maximum.