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A small-scale furniture maker's cost to produce each additional wooden chair increases as they make more. The table below shows this cost for the first four chairs. If the market price for a chair is fixed at $150, which specific chair generates a producer surplus of exactly $65 for the maker?
| Chair Number | Marginal Cost to Produce |
|---|---|
| 1st Chair | $50 |
| 2nd Chair | $70 |
| 3rd Chair | $85 |
| 4th Chair | $110 |
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The Economy 2.0 Microeconomics @ CORE Econ
Ch.8 Supply and demand: Markets with many buyers and sellers - The Economy 2.0 Microeconomics @ CORE Econ
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