Use the Following to Answer Questions -(Table: Pumpkin Market)There Are Two Consumers,Andy and Ben,in the Market
Use the following to answer questions :
-(Table: Pumpkin Market) There are two consumers,Andy and Ben,in the market for pumpkins.Their willingness to pay for each pumpkin is shown in the table Pumpkin Market.There are two producers of pumpkins,Cindy and Diane,and their costs are also shown.The equilibrium price for pumpkins is $8 and the equilibrium quantity is 5.At the equilibrium price and quantity,the total producer surplus is:
A) $0.
B) $8.
C) $11.
D) $14.
Correct Answer:
Verified
Q142: If total surplus rises,there may have been
Q143: If there is an increase in demand
Q144: If there is a decrease in demand
Q145: Use the following to answer question:
Q147: If total surplus falls,there may have been
Q149: Use the following to answer question:
Q157: If there is a decrease in supply
Q158: Use the following to answer question:
Q159: Use the following to answer question:
Q160: Use the following to answer question:
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents