The figure above shows Sam's budget line. Sam's budget line shows
A) which combinations of gasoline and coffee Sam can afford.
B) which combinations of gasoline and coffee Sam is planning to purchase.
C) whether or not Sam thinks gasoline and coffee are worth their prices.
D) whether or not Sam currently has enough gasoline and enough coffee.
A
Economics
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Economics
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 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) there will be a surplus; as a result, the price will fall to $24. D) producer surplus will equal $28.
Economics