Table: Drmand Schedukf Price of Qeastily of 600 Tabler Demand Schedule for Gadge

Question

Table: Drmand Schedukf Price of Qeastily of 600 Tabler Demand Schedule for Gadgets) Look at the table Demand Schedule for Gadgets The maket for padgets at a marginal cost decides to increase output by 100, industry ouput wi be gadgets is dominated by tao prod.cers, Margaret and Ray Each 1rm can proo.ce demand schedle tor gadgets inruput 350 gadgets produced by Margaetand 250 gadgnts produ.cet bay Ray and t Pay 500 400. QUESTION 11 Table: Demand Schedak of Gadgets Price of Quaatity of Cadget Gadgets Ermanded $10 100

Explanation / Answer

Current industry output = 350 + 250 = 600,

that is 350 gadgets were produced by Margaret and 250 gadgets were produced by Ray.

But, if Ray decides to increase his output by 100, then Ray's total output would be 250 + 100 = 350

Hence, the total industry output will become = 350 + 350 = 700. Hence, the correct answer is (A)

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