Suppose There Are Four Firms That Are Each Willing to Sell

question 162

Multiple Choice

Suppose there are four firms that are each willing to sell one unit of a good. Each firm has a different minimum price that they are willing to sell for: Firm A $6, Firm B $7, Firm C $10, and Firm D $12. If the market price is $11, then the total producer surplus is

• A) $10.
• B) $11.
• C) $33.
• D) $9.

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Definitions:

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