Use the Following to Answer Questions

question 170

Multiple Choice

Use the following to answer questions:
-(Table: Prices and Demand) Look at the table Prices and Demand. The New Orleans Saints have a monopoly on Saints logo hats. The marginal cost of producing a hat is $18. How much is producer surplus at the Saint's profit-maximizing output?

• A) $24
• B) $18
• C) $12
• D) $9

---

Definitions:

Daytona 500

An iconic annual NASCAR Cup Series motor race held in Daytona Beach, Florida, known as "The Great American Race."

Price Elasticity of Supply

A measure of how much the quantity supplied of a good responds to a change in the price of that good.

Price Elasticity of Demand

A measure of how the quantity demanded of a good changes in response to a change in its price, indicating its sensitivity to price changes.

Pokemon Cards

Collectible cards part of the Pokémon Trading Card Game, featuring different characters from the Pokémon franchise, with gameplay based on battles between Pokémon creatures.