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Home Q & A Board Other Fields Homework Help Business Economics
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Loraine Loraine
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Posts: 4563
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9 years ago
The price of a cowboy hat is $100. Willie can produce a hat at a marginal cost of $130, Waylon can produce at a marginal cost of $100, and Merle can produce at a marginal cost of $85. Which of the following statements is correct?
A) The sum of producer surplus is $15.
B) All three of these sellers will gain producer surplus from selling a hat.
C) The sum of producer surplus is $30.
D) Willie's producer surplus is $30.
E) The sum of producer surplus is $45.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
Read 1638 times
2 Replies
Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.

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wrote...
#1
9 years ago
A
wrote...
#2
9 years ago
I was confident with my answer, glad it was correct.

Oh, and thumbs-up are more than welcome Slight Smile
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