Table 7-16 The Following Table Represents the Costs of Five Possible Sellers

question 89

Multiple Choice

Table 7-16
The following table represents the costs of five possible sellers.
Seller Cost ($)

-Refer to Table 7-16. If each producer has one unit available for sale, and if the market equilibrium price is $70, how much is the combined total cost of all participating sellers in the market?

• A) $100
• B) $150
• C) $250
• D) $350

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