Table 4-3 -Refer to Table 4-3.The Table Above Lists the Marginal Cost

question 195

Multiple Choice

Table 4-3

-Refer to Table 4-3.The table above lists the marginal cost of cowboy hats by The Waco 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)there will be a surplus of cowboy hats.

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