The Costume Store specializes in producing fancy dress costumes. Their marginal cost of producing cowboy hats is as follows: 1st hat $24, 2nd hat $30, 3rd hat $38, 4th hat, $46. Suppose the market price of cowboy hats decreases from $38 to $30. Which of the following statements is true? Producer surplus will fall from $22 to $6. Producer surplus will fall from $54 to $24. The Costume Store will produce no hats. Producer surplus will increase from $8 to $24. Consumer surplus will rise by $6.

Consider the following table that describes the total cost of producing dresses by Shirley, a local fashion artist. Dresses Total cost ($)0 501 802 1053 1404 1805 2256 2757 350 Assume that the market is competitive and the price of dresses is $73. At this price how many dresses should Shirley produce to maximise profit? (If Shirley is indifferent between producing an additional dress and not producing, please assume that she will produce the additional dress to break the tie.)

The table below shows the total cost and marginal cost for Chrissy's Costumes, a perfectly competitive firm producing different quantities of children's costumes. The market price of costumes is $12.00.          Chrissy's Costs of ProductionQuantity (costumes) Average Total Cost (dollars) Marginal Cost (dollars)100 $8.00 $7.50200 7.50 6.50300 7.00 7.00400 9.00 12.00500 12.00 15.00600 15.00 17.00 Instructions: Enter your answers as a whole number. a. If the market price is $12.00 per costume, how many costumes should Chrissy's Costumes make?      costumes b. If the market price for costumes falls to $7.00 per costume, how many costumes should Chrissy's Costumes make now?       costumes

A store has a sale where all hats are sold at a discount of 35%. If the regular price of the hats is $40, how many hats could be bought at the sale price if a shopper spent $390?1314151617

Patricia wants to buy a new red dress. She found the dress at three different stores for a price of $65. The stores are each having a sale. Store R is offering 15% off the price of the dress.Store S is offering a $10 off coupon for the dress.Store T is offering a 1/4 discount off the price of the dress.Which statement about the sale price of the dress is true?

Question 4If the price of a good falls while supply remains unchanged, then total producer surplus will ____________.1 pointremain unchangeddecreaseWe can’t say.increase