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Question
Table 4-3| The Waco Kid's Cowboy Hats | Marginal Cost (dollars) |
| 1st hat | $24 |
| 2nd hat | 30 |
| 3rd hat | 38 |
| 4th hat | 46 |
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 market price of cowboy hats is $50, producer surplus is
A) $0.
B) $4.
C) $62.
D) $138.
Answer
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