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 at a marginal cost of $2 and no fixed cost.If industry output is 300 gadgets produced by Margaret and 200 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) $600;$600
Correct Answer:
Verified
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Figure: Monopoly
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Figure: Monopoly
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Figure: Monopoly
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