Refer to Table 4-3. The table above lists the marginal cost of polo shirts by Marko's, a firm that specializes in producing men's clothing. If the price of polo shirts increases from $15 to $20
A) producer surplus will rise from $13 to $28.
B) there will be a surplus of polo shirts.
C) the marginal cost of producing the third polo shirt will increase to $20.
D) consumers will buy no polo shirts.
A
Economics
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Answer the following statement true (T) or false (F)
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The Consumer Price Index is:
A. A measure of changes in the relative prices of significant consumer goods. B. A measure of changes in the price of all goods and services. C. A measure of changes in the average price of consumer goods and services. D. Used to determine if the economy is functioning at full employment.
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