Table 42 -Refer to Table 4

question 30

Multiple Choice

Table 4.2
$\begin{array}{|l|c|}\hline \begin{array}{c}\text { The Lethbridge }\\\text { Kid's Cowboy } \\\text { Hats }\end{array} & \begin{array}{c}\text { Marginal Cost } \\\text { (dollars) }\end{array} \\\hline \text { Ist hat } & \$ 24 \\\hline \text { 2nd hat } & 30 \\\hline \text { 3rd hat } & 38 \\\hline \text { 4th hat } & 46\\\hline\end{array}$
-Refer to Table 4.2.The table above lists the marginal cost of cowboy hats by The Lethbridge Kid, a firm that specializes in producing western wear.If the price of cowboy hats increases from $38 to $46

• A)consumers will buy no cowboy hats.
• B)the marginal cost of producing the third cowboy hat will increase to $46.
• C)producer surplus will rise from $22 to $46.
• D)producer surplus will rise from $38 to $46.

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Definitions:

Cognitive Dissonance

Experienced inconsistency between one’s attitudes and/or between attitudes and behavior.

Perceived Control

An individual's belief in their ability to influence or control events in their life, which can impact their motivation and psychological well-being.

Magnitude

The size, extent, or importance of something, often used in the context of measurements or the impact of an event.

Attitudes

are individuals' settled ways of thinking or feeling about something, which can influence their behavior.