Table 7-13
The only four producers in a market have the following costs:
-Refer to Table 7-13. If the sellers bid against each other for the right to sell the good to a single consumer, then the producer surplus will be
A)$0 or slightly more.
B)$5 or slightly less.
C)$10 or slightly less.
D)$25 or slightly less.

Question

Table 7-13
The only four producers in a market have the following costs: 
-Refer to Table 7-13. If the sellers bid against each other for the right to sell the good to a single consumer, then the producer surplus will be
A)$0 or slightly more. 
B)$5 or slightly less. 
C)$10 or slightly less. 
D)$25 or slightly less.

Quizplus · Accepted Answer

The Answer of Table 7-13
The only four producers in a market have the following costs: 
-Refer to Table 7-13. If the sellers bid against each other for the right to sell the good to a single consumer, then the producer surplus will be
A)$0 or slightly more. 
B)$5 or slightly less. 
C)$10 or slightly less. 
D)$25 or slightly less.

Table 7-13 The Only Four Producers in a Market Have the Following