Multiple Choice
Suppose the market price is $5. The producer who sells the first unit of output has a willingness-to-sell equal to $1; the producer who sells the second unit of output has a willingness-to-sell equal to $2; and the producer who sells the third unit of output has a willingness-to-sell equal to $4. Total producer surplus across these three producers is
A) $7.
B) $8.
C) $4.
D) $5.
Correct Answer:
Verified
Correct Answer:
Verified
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