Ben's Cost of Making an Additional Rocking Chair Is $75

question 145

Multiple Choice

Ben's cost of making an additional rocking chair is $75.

• A) If he sells it for a $100, his producer surplus is $25.
• B) His marginal cost is equal to $75.
• C) The marginal benefit to the consumer from the chair will be $75.
• D) Both answers A and B are correct.
• E) Both answers B and C are correct.

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Definitions:

Benefits

Advantages or positive outcomes that result from a particular action, policy, product, or service.

Measured Response

A carefully considered and calculated reaction to a situation, often aiming to avoid excessive or insufficient action.

Purchase Message

Communication designed to influence or inform consumers about buying products or services.

Call To Action

A prompt on a website, advertisement, or other media use that encourages the audience to take some specific action, such as signing up, buying, or clicking to learn more.