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:

Chemiosmosis

The movement of ions across a selectively permeable membrane, down their electrochemical gradient, which is used in cellular respiration and photosynthesis to generate ATP.

Oxidative Phosphorylation

A metabolic process that produces ATP by transferring electrons from NADH and FADH2 to oxygen via a series of electron carriers.

Glycolysis

Glycolysis is a metabolic pathway that breaks down glucose into pyruvate, generating small amounts of energy in the form of ATP.

Lactate Accumulation

The build-up of lactate in muscles during strenuous exercise when oxygen levels are low, often leading to fatigue.