Table 7-11
The only four producers in a market have the following costs:
-Refer to Table 7-11. 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 7-11
The only four producers in a market have the following costs: 
-Refer to Table 7-11. 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 7-11
The only four producers in a market have the following costs: 
-Refer to Table 7-11. 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 7-11 The Only Four Producers in a Market Have the Following