Table 7-9
​
​ ​
-Refer to Table 7-9

question 35

Multiple Choice

Table 7-9
​
​
$$\begin{array} { | c | c | } \hline \text { Seller } & \begin{array} { c } \text { Opportunity Cost for } \\\text { Providing 10 Piano Lessons } \\\text { (Dollars) }\end{array} \\\hline \text { Marcia } & 200 \\\hline \text { Jan } & 250 \\\hline \text { Cindy } & 350 \\\hline \text { Greg } & 400 \\\hline \text { Peter } & 700 \\\hline \text { Bobby } & 800 \\\hline\end{array}$$ ​
-Refer to Table 7-9. The equilibrium market price for 10 piano lessons is $400. What is the total producer surplus in the market?

• A)$0
• B)$300
• C)$400
• D)$700

---

Definitions:

Airline Pilot

A professional who operates the flight controls of an aircraft, responsible for navigating airliners from one destination to another.

M'Naghten Rule

A legal standard used to evaluate the criminal responsibility of a defendant deemed to be mentally disturbed.

Not Guilty

A legal judgment that asserts the defendant has not been proven to commit the offense they were charged with beyond a reasonable doubt.

Insanity

A legal and psychological term referring to a mental illness of such a severe nature that a person cannot distinguish fantasy from reality, or is unable to conduct her/his affairs due to psychosis, or is subject to uncontrollable impulsive behavior.