Which of the following events would increase producer surplus? Select one: a. All of the choices...
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Which of the following events would increase producer surplus? Select one: a. All of the choices are correct b. Sellers' costs increase and the price of the good stays the same. c. Sellers' costs stay the same and the price of the good increases. d. Sellers' costs increase and the price of the good decreases. The schedule below represents the willingness of a typical vintner to produce wine in a year. Suppose this information is used to create a linear supply curve. Price Per Bottle of Wine Bottles of Wine Produced Per Year $50 $40 $30 $20 $10 $0 If the market price of wine is $20, the total producer surplus equals: Select one: a. $40,000 b. $10,000 c. 1980.00 d. $20,000 5,000 4,000 3,000 2,000 1,000 0 Which of the following events would increase producer surplus? Select one: a. All of the choices are correct b. Sellers' costs increase and the price of the good stays the same. c. Sellers' costs stay the same and the price of the good increases. d. Sellers' costs increase and the price of the good decreases. The schedule below represents the willingness of a typical vintner to produce wine in a year. Suppose this information is used to create a linear supply curve. Price Per Bottle of Wine Bottles of Wine Produced Per Year $50 $40 $30 $20 $10 $0 If the market price of wine is $20, the total producer surplus equals: Select one: a. $40,000 b. $10,000 c. 1980.00 d. $20,000 5,000 4,000 3,000 2,000 1,000 0
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