Table 17-2. The table shows the town of Pittsville's demand schedule for gasoline. For simplicity, assume the town's gasoline seller(s) incur $2 per gallon costs in selling gasoline.

Quantity (in gallons)	Price	Total Revenue (and total profit)
0	$10	$0
100	9	900
200	8	1,600
300	7	2,100
400	6	2,400
500	5	2,500
600	4	2,400
700	3	2,100
800	2	1,600
900	1	900
1,000	0	0

Refer to Table 17-2. Suppose there are exactly two sellers of gasoline in Pittsville: Exxoff and BQ. Currently, Exxoff sells 300 gallons and BQ sells 400 gallons. Which of the following statements is correct? (Hint: Perform simple interpolation between rows of the chart where necessary.)

profits for the two firms would increase if they reduced production and raised prices.