Use the Following to Answer Question

question 225

Multiple Choice

Use the following to answer question:
-(Table: Pumpkin Market) There are two consumers,Andy and Ben,in the market for pumpkins.Their willingness to pay for each pumpkin is shown in the table Pumpkin Market.There are two producers of pumpkins,Cindy and Diane,and their costs are also shown.The equilibrium price for pumpkins is $8 and the equilibrium quantity is 5.At the equilibrium price and quantity,Diane sells _____ pumpkins,and her producer surplus is _____.

• A)four;$11
• B)three;$8
• C)two;$6
• D)one;$4

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Definitions:

Supply Chain

Complete sequence of suppliers that contribute to creating a good or service and delivering it to business users and final consumers.

Physical Distribution

Actual movement of products from producer to consumers or business users.

Direct Distribution Channel

Marketing channel that moves goods directly from producer to ultimate user.

Indirect Distribution Channel

A chain of intermediaries through which a product passes before reaching the consumer, involving one or more third parties.