Suppose that the price of a coffee mug is $2. lee's marginal cost of producing coffee mugs $0.50 for the first mug, tammy's marginal cost of producing coffee mugs is $1 for the second mug, stan's marginal cost of producing coffee mugs is $1.50 for the third mug, joy's marginal cost of producing coffee mugs is $2 for the fourth mug, and jody's marginal cost of producing coffee mugs is $3 for the fifth mug. in equilibrium, what is the producer surplus from producing coffee mugs?

c.

explanation:

regressive tax taxes the poor and less of the wealthy. this the rich get richer and the poor get more poor. this would create a large wealth gap.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answer; dogs;