Refer to Table 6.6. If the six people listed in the table are the only producers in

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Refer to Table 6.6. If the six people listed in the table are the only producers in the market and the equilibrium price is $6 (not the $8 shown), how much producer surplus will the market generate?

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Economics

ISBN: 978-0073375694

18th edition

Authors: Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn

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Question Posted: May 23, 2013 07:43 AM

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Refer to Table 6.6. If the six people listed in the table are the only producers in

Question:

Minimum Acceptable Price Actual Price (Equilibrium Price) Producer Surplus $5 (-$8-$3) 4 ( $8- $4) 3 $8-$5) 2 $8- $6) Person Carlos Courtney Chuck Cindy Craig Chad 8 8 8 $8-$7) 8 8 0 $8-$8)

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