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6 Oct 2020
Based on the table below, calculate producer surplus for each producer when the market price is $12.
Sellers
Willingness to sell one unit
A
$21
B
$4
C
$30
D
$14
E
$12
F
$15
G
$51
H
$9
I
$23
Based on the table below, calculate producer surplus for each producer when the market price is $12.
| Sellers | Willingness to sell one unit |
| A | $21 |
| B | $4 |
| C | $30 |
| D | $14 |
| E | $12 |
| F | $15 |
| G | $51 |
| H | $9 |
| I | $23 |
Sonia DhawanLv10
26 Oct 2020
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Related questions
The table below shows the willingness of three people to sell their tutoring services. Calculate the producer surplus for Frank if the market price for tutoring is $18/hr.
| Sellers | Willingness to sell their services |
| Beanie | $30/hr |
| Mitch | $20/hr |
| Frank | $10/hr |
a. $8/hr
b. $10/hr
c. $28/hr
d. $0/hr
Based on the table below, calculate the consumer surplus for each consumer when the price is $17. What is the total consumer surplus at this price?
| Buyers | Willingness to pay for one unit |
| A | $6 |
| B | $27 |
| C | $13 |
| D | $21 |
| E | $33 |
| F | $35 |
| G | $12 |
| H | $13 |
| I | $22 |