Assume there are three hardware stores,each willing to sell one standard model hammer in a given time period.House Depot can offer their hammer for a minimum of $7.Lace Hardware can offer the hammer for a minimum of $10.Bob's Hardware store can offer the hammer at a minimum price of $13. Given the scenario described,if the market price of hammers increased from $6 to $7:
A) total producer surplus would increase.
B) total producer surplus would remain unchanged.
C) total producer surplus would decrease.
D) total producer surplus cannot be determined with the information given.

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The Answer of Assume there are three hardware stores,each willing to sell one standard model hammer in a given time period.House Depot can offer their hammer for a minimum of $7.Lace Hardware can offer the hammer for a minimum of $10.Bob's Hardware store can offer the hammer at a minimum price of $13. Given the scenario described,if the market price of hammers increased from $6 to $7:
A) total producer surplus would increase.
B) total producer surplus would remain unchanged.
C) total producer surplus would decrease.
D) total producer surplus cannot be determined with the information given.

Assume There Are Three Hardware Stores,each Willing to Sell One