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

question 43

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 decreases from $38 to $30,

• A)consumer surplus will rise by $6.
• B)the marginal cost of producing the third cowboy hat will fall to $30.
• C)producer surplus will fall from $22 to $6.
• D)producer surplus will rise from $8 to $24.

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Definitions:

Gears And Shafts

Mechanical components that transmit rotational force; gears change the speed, torque, and direction of movement, while shafts support rotating parts and transfer motion.

Idler Gear

An Idler Gear is a gear positioned between two other gears to transmit motion from one to the other, often used to change the direction of rotation or to adjust the spacing between driving and driven gears.

Direction Of Rotation

The clockwise or counterclockwise movement of a mechanical component or system as seen from a specific vantage point.

Drive Gear

Any gear that drives another.