Table 7-12
The only four producers in a market have the following costs:

-Refer to Table 7-12. If the sellers bid against each other for the right to sell the good to a consumer, then the producer surplus will be
A) $0 or slightly more.
B) $50 or slightly less.
C) $150 or slightly less.
D) $200 or slightly more.

Question

Table 7-12
The only four producers in a market have the following costs:
 
-Refer to Table 7-12. If the sellers bid against each other for the right to sell the good to a consumer, then the producer surplus will be
A) $0 or slightly more. 
B) $50 or slightly less. 
C) $150 or slightly less. 
D) $200 or slightly more.

Quizplus · Accepted Answer

The Answer of Table 7-12
The only four producers in a market have the following costs:
 
-Refer to Table 7-12. If the sellers bid against each other for the right to sell the good to a consumer, then the producer surplus will be
A) $0 or slightly more. 
B) $50 or slightly less. 
C) $150 or slightly less. 
D) $200 or slightly more.

Table 7-12 The Only Four Producers in a Market Have the Following