(Answered) Suppose the market price is 5 the producer who sells the

Management Studies

Suppose the market price is $5. The producer who sells the first unit of output has a willingness-to-sell equal to $1; the producer who sells the second unit of output has a willingness-to-sell equal to $2; and the producer who sells the third unit of output has a willingness-to-sell equal to $4. Total producer surplus is: $7, $8, $4, $5

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