Considering All Costs of Production, the Marginal Cost of Producing

question 36

Multiple Choice

Considering all costs of production, the marginal cost of producing a hot dog is $1.00. The price of a hot dog is $1.50. Thus, the producer surplus from this hot dog is

• A) $1.00.
• B) $1.50.
• C) $0.50.
• D) zero, because $1.50 is the most anyone would pay for a hot dog.

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Definitions:

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