costs of the four potential sellers in the local photography market are: Lebron $700; Kobe $600; Kevirn Steve $400. You and your friend agree to offer $500 for each session. Who accepts the offer, and wha total producer surplus in the market? Select one: O a. LeBron and Kobe; $300 O b. Kevin and Steve; $500 O C. LeBron and Kobe; $500 Od. Kevin and Steve; S150 Clear my choice Next pac page
costs of the four potential sellers in the local photography market are: Lebron $700; Kobe $600; Kevirn Steve $400. You and your friend agree to offer $500 for each session. Who accepts the offer, and wha total producer surplus in the market? Select one: O a. LeBron and Kobe; $300 O b. Kevin and Steve; $500 O C. LeBron and Kobe; $500 Od. Kevin and Steve; S150 Clear my choice Next pac page
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Which is correct answer?
quicky
Transcribed Image Text:Time left 0:2
You and your best friend want to hire a professional photographer to take pictures of your two families. The
costs of the four potential sellers in the local photography market are: Lebron $700, Kobe $600; Kevin $450 and
Steve $400. You and your friend agree to offer $500 for each session. Who accepts the offer, and what is the
total producer surplus in the market?
Select one:
a. LeBron and Kobe; $300
Ob. Kevin and Steve, $500
C.
LeBron and Kobe, $500
Od. Kevin and Steve, $150
Clear my choice
Next page
ous page
..
Transcribed Image Text:Time left 0:25:46
A tax placed on sellers of cable TV services will
the price received by buyers of cable and causes the
number of subscribers to
Select one:
a.
not change; decrease
Ob. raise, decrease
Oc.
raise; increase
Od. reduce; decrease
e. reduce; increase
Clear my choice
Next page
s page
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