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Table 7-10 -Refer to Table 7-10.You and Your Best Friend Want to Best

Question 26

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Table 7-10
Table 7-10 -Refer to Table 7-10.You and your best friend want to hire a professional photographer to take pictures of your two families.The table shows the costs of the four potential sellers in the local photography market.You and your friend agree to offer $500 for each session.Who accepts the offer,and what is the total producer surplus in the market? A) LeBron and Kobe; $500 B) Kevin and Steve; $500 C) LeBron and Kobe; $300 D) Kevin and Steve; $150
-Refer to Table 7-10.You and your best friend want to hire a professional photographer to take pictures of your two families.The table shows the costs of the four potential sellers in the local photography market.You and your friend agree to offer $500 for each session.Who accepts the offer,and what is the total producer surplus in the market?


A) LeBron and Kobe; $500
B) Kevin and Steve; $500
C) LeBron and Kobe; $300
D) Kevin and Steve; $150

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