Multiple Choice
The price of a cowboy hat is $100.Willie can produce a hat at a marginal cost of $130,Waylon can produce at a marginal cost of $100,and Merle can produce at a marginal cost of $85.Which of the following statements is correct?
A) The sum of producer surplus is $15.
B) All three of these sellers will gain producer surplus from selling a hat.
C) The sum of producer surplus is $30.
D) Willie's producer surplus is $30.
E) The sum of producer surplus is $45.
Correct Answer:

Verified
Correct Answer:
Verified
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