Table 7-12
The numbers reveal the opportunity costs of providing 10 piano lessons of equal quality.
-Refer to Table 7-12. The equilibrium market price for 10 piano lessons is $400. What is the total producer surplus in the market?
A)$0
B)$300
C)$400
D)$700

Question

Table 7-12
The numbers reveal the opportunity costs of providing 10 piano lessons of equal quality. 
-Refer to Table 7-12. The equilibrium market price for 10 piano lessons is $400. What is the total producer surplus in the market?
A)$0 
B)$300 
C)$400 
D)$700

Quizplus · Accepted Answer

The Answer of Table 7-12
The numbers reveal the opportunity costs of providing 10 piano lessons of equal quality. 
-Refer to Table 7-12. The equilibrium market price for 10 piano lessons is $400. What is the total producer surplus in the market?
A)$0 
B)$300 
C)$400 
D)$700

Table 7-12 The Numbers Reveal the Opportunity Costs of Providing 10 Piano