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, how many hats will be produced?

GATT is an acronym (stands for)

a. Good and Total Trade b. General Agreement on Tariffs and Trade c. Greater Agreements Toward Trade d. Gold and Trade Transactions e. Greater Area Trade Transactions

Opportunity cost can always be measured in money terms

a. True b. False Indicate whether the statement is true or false