Table 7-2
The costs of five possible sellers

-Refer to Table 7-2. If the market price is $1000, the total cost in the market will be:
A) $3700
B) $2700
C) $2250
D) $1500

Question

Table 7-2
The costs of five possible sellers
 
-Refer to Table 7-2. If the market price is $1000, the total cost in the market will be:
A) $3700 
B) $2700 
C) $2250 
D) $1500

Quizplus · Accepted Answer

To find the total cost in the market, we need to add up the costs of all possible sellers. 
Seller 1: $600
Seller 2: $500
Seller 3: $150
Seller 4: $800
Seller 5: $200

Total Cost = $600 + $500 + $150 + $800 + $200 = $2250

Therefore, the best choice is C.

Table 7-2 The Costs of Five Possible Sellers