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At Nick's Bakery, the cost to make homemade chocolate cake is $3 per cake

Economics

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At Nick's Bakery, the cost to make homemade chocolate cake is $3 per cake. As a result of selling three cakes, Nick experiences a producer surplus in the amount of $19.50. Nick must be selling his cakes for:

a. $6.50 each.

b. $7.50 each.

c. $9.50 each.

d. $10.50 each.