In the Figure Below,the Producer Surplus from the Tenth Unit

question 156

Multiple Choice

In the figure below,the producer surplus from the tenth unit sold is ________.

• A) $0
• B) $4
• C) $7
• D) $9

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Definitions:

Perfectly Competitive

A market structure characterized by many small firms, homogeneous products, and easy market entry and exit, leading to minimal profit margins for the firms.

Marginal Product

Marginal Product is the increase in output that results from employing one more unit of a factor of production, holding all other factors constant.

Rental Prices

The amount of money charged by a landlord to a tenant for the use of property, such as an apartment or commercial space.

Factor Market

Markets where factors of production (such as labor, capital, and natural resources) are bought and sold.