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Table 5.3 -Refer to Table 5.3.The Table Above Lists the Marginal Cost

Question 4

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Table 5.3 Table 5.3 -Refer to Table 5.3.The table above lists the marginal cost of cowboy hats by The Waco Kid, a firm that specialises in producing fancy dress costumes.If the market price of The Waco Kid's cowboy hats is $40, A) the Waco Kid will produce four hats. B) producer surplus from the first hat is $40. C) producer surplus will equal $28. D) there will be a surplus; as a result, the price will fall to $24.
-Refer to Table 5.3.The table above lists the marginal cost of cowboy hats by The Waco Kid, a firm that specialises in producing fancy dress costumes.If the market price of The Waco Kid's cowboy hats is $40,


A) the Waco Kid will produce four hats.
B) producer surplus from the first hat is $40.
C) producer surplus will equal $28.
D) there will be a surplus; as a result, the price will fall to $24.

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