The term "fast fashion" refers to low-quality clothing items produced cheaply in mass quantities. As a buyer typically only wears each fast fashion piece a few times, the fast fashion industry creates extra factory pollution and landfill waste. The market price of a fast-fashion T-shirt is $12, but the marginal external cost is $2.50 per shirt. What is the marginal social cost of a fast-fashion T-shirt at the market equilibrium quantity?Question 11Answera.$14.50b.$9.50Incorrect.c.$2.50d.$12.00

What are the economic costs of fast-fashion? What contributes to market failure in the fast-fashion sector?

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.

Samantha is maximizing total utility while consuming food and clothing. Her marginal utility from food is 50, and her marginal utility from clothing is 25. If clothing is priced at $10 per unit, the price of food per unit must beGroup of answer choices$2.$2.50.$20.$5.

Suppose there are 100 firms each with a short run total cost of STC = q2 + q + 10, so that marginal cost is MC = 2q +1. If market demand is given by QD = 1050 - 50P, what is the equilibrium price?Question 5Select one:a.50.b.10.c.5.d.11.

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