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 The Waco Kid's cowboy hats is $40, then Group of answer choices: producer surplus will equal $28. there will be a surplus; as a result, the price will fall to $24. producer surplus will equal $24. producer surplus from the first hat will equal $40.

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