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 and acted to maximize total industry profits,total industry profit would be:
A)$10,000.
B)$5,000.
C)$2,500.
D)$1,250.

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 and acted to maximize total industry profits,total industry profit would be:
A)$10,000. 
B)$5,000. 
C)$2,500. 
D)$1,250.

Quizplus · Accepted Answer

The Answer of 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 and acted to maximize total industry profits,total industry profit would be:
A)$10,000. 
B)$5,000. 
C)$2,500. 
D)$1,250.

Use the Following to Answer Question