Multiple Choice
Assume there are three hardware stores, each willing to sell one standard model hammer in a given time period. House Depot could offer a hammer for a minimum of $7. Lace Hardware could offer a hammer for a minimum of $10. Bob's Hardware could offer a hammer for a minimum of $13.If the market price of hammers is $13, what would total producer surplus be?
A) $9
B) $30
C) $17
D) $7
Correct Answer:

Verified
Correct Answer:
Verified
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