Table 7-6
The following table represents the costs of five possible sellers.

-Refer to Table 7-6.If the market price is $1,100,the combined total cost of all participating sellers is

Question

Table 7-6
The following table represents the costs of five possible sellers.
 
-Refer to Table 7-6.If the market price is $1,100,the combined total cost of all participating sellers is

Quizplus · Accepted Answer

To find the combined total cost of all participating sellers, we need to sum the costs of all sellers whose prices are less than or equal to the market price. In this case, sellers 1, 2, and 4 all have prices that are less than or equal to $1,100, so we sum their costs:

$1,000 + $700 + $550 = $2,250

Therefore, the combined total cost of all participating sellers is $2,250. Choice C is the correct answer.

Table 7-6 The Following Table Represents the Costs of Five Possible Sellers