If the market price is $1. 100. the combined total cost of all participating sellers is

Table 7-6 The following table represents the costs of five possible
sellers. Seller Cost Abby $1,500 Bobby $1,200 Carlos $1,000 Dianne $750 Evalina $500 ____ 6. Refer to Table 7-6. If the market price is $1,000, the
producer surplus in the market is a. $700. b. $750. c. $2,250. d.
$3,700. ____ 7. Refer to Table 7-6. If the market price is $900, the
producer surplus in the market is a. $350. b. $550. c. $750. d.
$1,000. ____ 8. Refer to Table 7-6. If the market price is $1,100, the
combined total cost of all participating sellers is a. $3,700. b.
$2,700. c. $2,250. d. $1,250. ____ 9. Refer to Table 7-6. If the market price is $900, the
combined total cost of all participating sellers is a. $3,700. b.
$2,700. c. $2,250. d. $1,250. ____ 10. Refer to Table 7-6. If the price is $1,000, a. Bobby is
an eager supplier. b. Dianne is an eager supplier. c. Abby’s
producer surplus is $500. d. All of the above are correct. ____ 11. Refer to Table 7-6. If the price is $775, who would be
willing to supply the product? a. Abby and Bobby b. Abby, Bobby,
and Carlos c. Carlos, Dianne, and Evalina d. Dianne and Evalina
Name: ____ 12. Refer to Table 7-6. Suppose each of the five sellers
can supply at most one unit of the good. The market quantity
supplied is exactly 3 if the price is a. $670. b. $770. c. $970. d.
$1,170. ____ 13. Refer to Table 7-6. Suppose each of the five sellers
can supply at most one unit of the good. The market quantity
supplied is exactly 4 if the price is a. $770. b. $970. c. $1,170.
d. $1,370. ____ 14. Refer to Table 7-6. Who is a marginal seller when the
price is $1,200? a. Bobby b. Bobby and Abby c. Carlos, Dianne, and
Evalina d. Carlos, Dianne, Evalina, and Bobby

Table 7-6
The following table represents the costs of five possible
sellers.
Seller Cost
Abby $1,500
Bobby $1,200 
Carlos $1,000
Dianne $750
Evalina $500
____ 6. Refer to Table 7-6. If the market price is $1,000, the
producer surplus in the market is a. $700. b. $750. c. $2,250. d.
$3,700.
____ 7. Refer to Table 7-6. If the market price is $900, the
producer surplus in the market is a. $350. b. $550. c. $750. d.
$1,000. 
____ 8. Refer to Table 7-6. If the market price is $1,100, the
combined total cost of all participating sellers is a. $3,700. b.
$2,700. c. $2,250. d. $1,250.
____ 9. Refer to Table 7-6. If the market price is $900, the
combined total cost of all participating sellers is a. $3,700. b.
$2,700. c. $2,250. d. $1,250.
____ 10. Refer to Table 7-6. If the price is $1,000, a. Bobby is
an eager supplier. b. Dianne is an eager supplier. c. Abby’s
producer surplus is $500. d. All of the above are correct.
____ 11. Refer to Table 7-6. If the price is $775, who would be
willing to supply the product? a. Abby and Bobby b. Abby, Bobby,
and Carlos c. Carlos, Dianne, and Evalina d. Dianne and Evalina
Name:
____ 12. Refer to Table 7-6. Suppose each of the five sellers
can supply at most one unit of the good. The market quantity
supplied is exactly 3 if the price is a. $670. b. $770. c. $970. d.
$1,170.
____ 13. Refer to Table 7-6. Suppose each of the five sellers
can supply at most one unit of the good. The market quantity
supplied is exactly 4 if the price is a. $770. b. $970. c. $1,170.
d. $1,370.
____ 14. Refer to Table 7-6. Who is a marginal seller when the
price is $1,200? a. Bobby b. Bobby and Abby c. Carlos, Dianne, and
Evalina d. Carlos, Dianne, Evalina, and Bobby Table 7-6
The following table represents the costs of five possible
sellers.
Seller Cost
Abby $1,500
Bobby $1,200 
Carlos $1,000
Dianne $750
Evalina $500
____ 6. Refer to Table 7-6. If the market price is $1,000, the
producer surplus in the market is a. $700. b. $750. c. $2,250. d.
$3,700.
____ 7. Refer to Table 7-6. If the market price is $900, the
producer surplus in the market is a. $350. b. $550. c. $750. d.
$1,000. 
____ 8. Refer to Table 7-6. If the market price is $1,100, the
combined total cost of all participating sellers is a. $3,700. b.
$2,700. c. $2,250. d. $1,250.
____ 9. Refer to Table 7-6. If the market price is $900, the
combined total cost of all participating sellers is a. $3,700. b.
$2,700. c. $2,250. d. $1,250.
____ 10. Refer to Table 7-6. If the price is $1,000, a. Bobby is
an eager supplier. b. Dianne is an eager supplier. c. Abby’s
producer surplus is $500. d. All of the above are correct.
____ 11. Refer to Table 7-6. If the price is $775, who would be
willing to supply the product? a. Abby and Bobby b. Abby, Bobby,
and Carlos c. Carlos, Dianne, and Evalina d. Dianne and Evalina
Name:
____ 12. Refer to Table 7-6. Suppose each of the five sellers
can supply at most one unit of the good. The market quantity
supplied is exactly 3 if the price is a. $670. b. $770. c. $970. d.
$1,170.
____ 13. Refer to Table 7-6. Suppose each of the five sellers
can supply at most one unit of the good. The market quantity
supplied is exactly 4 if the price is a. $770. b. $970. c. $1,170.
d. $1,370.
____ 14. Refer to Table 7-6. Who is a marginal seller when the
price is $1,200? a. Bobby b. Bobby and Abby c. Carlos, Dianne, and
Evalina d. Carlos, Dianne, Evalina, and Bobby

Leave a Comment