Overview
The following Table shows Jared’s marginal cost of producing figurines.
| Quantity | Marginal Cost |
|---|---|
| 1 | $4 |
| 2 | $14 |
| 3 | $20 |
| 4 | $28 |
| 5 | $38 |
| 6 | $44 |
| 7 | $52 |
If the price is $7, how many units will Jared produce?
At a price of $7, what would be his Producer Surplus?
If the price is $37 how many units will Jared produce?
At a price of $37, what would be his Producer Surplus?