Table 7-2
The only four producers in a market have the following costs:

-Refer to Table 7-2.If the sellers bid against each other for the right to sell the good to a single consumer,then the producer surplus will be
A) $0 or slightly more.
B) $5 or slightly less.
C) $10 or slightly less.
D) $25 or slightly less.

Question

Table 7-2
The only four producers in a market have the following costs:
 
-Refer to Table 7-2.If the sellers bid against each other for the right to sell the good to a single consumer,then the producer surplus will be
A) $0 or slightly more. 
B) $5 or slightly less. 
C) $10 or slightly less. 
D) $25 or slightly less.

Quizplus · Accepted Answer

The Answer of Table 7-2
The only four producers in a market have the following costs:
 
-Refer to Table 7-2.If the sellers bid against each other for the right to sell the good to a single consumer,then the producer surplus will be
A) $0 or slightly more. 
B) $5 or slightly less. 
C) $10 or slightly less. 
D) $25 or slightly less.

Table 7-2 The Only Four Producers in a Market Have the Following