Use the following to answer question(s): Markets and Efficiency

-(Exhibit: Markets and Efficiency) What is the marginal benefit to a producer of an extra pound of apples in Panel (a)?
A) It is the price the producer receives.
B) It is the price the consumer receives.
C) It is the price the producer pays.
D) It is all of the above.

Question

Use the following to answer question(s): Markets and Efficiency
 
-(Exhibit: Markets and Efficiency) What is the marginal benefit to a producer of an extra pound of apples in Panel (a)?
A) It is the price the producer receives. 
B) It is the price the consumer receives. 
C) It is the price the producer pays. 
D) It is all of the above.

Quizplus · Accepted Answer

The marginal benefit to a producer of an extra pound of apples in Panel (a) is the price the producer receives, as shown by the upward-sloping supply curve.

Use the Following to Answer Question(s): Markets and Efficiency