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 $9 to $13:
A) producer surplus would increase for each producer.
B) producer surplus would increase only for House Depot.
C) producer surplus would remain unchanged for Bob's Hardware.
D) producer surplus would increase by $4 for Lace Hardware.

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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 $9 to $13:
A) producer surplus would increase for each producer.
B) producer surplus would increase only for House Depot.
C) producer surplus would remain unchanged for Bob's Hardware.
D) producer surplus would increase by $4 for Lace Hardware.

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