The Marginal Cost of Producing an Additional Basket of Tomatoes

question 24

Multiple Choice

The marginal cost of producing an additional basket of tomatoes is $5.00.The consumer is willing to pay a maximum of $9.00 for an additional basket.A farmer sells a basket of tomatoes for $6.00 each.The farmer receives a producer surplus from selling an additional basket of tomatoes equal to

• A)$1.00.
• B)$3.00.
• C)$4.00.
• D)$5.00.
• E)$9.00.

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Definitions:

Socially Constructed

A concept or perception developed by society through cultural and social practices, rather than existing inherently.

Scientific Community

A group of researchers, academics, and professionals who share knowledge and conduct studies in various fields of science.

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Relating to the biological aspects of organisms and their functions, often in contrast to environmental or social influences.

Discrimination

Unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, or sex.