please show your thought process on this Im pretty sure its D but im not 100% confident Table 7-2The only four producers in a market have the following costs:Cost$50Selena $100Angie $150Kris$200SellerEvan8. Refer to Table 7-2. If Evan, Selena, and Angie sell the good, and the resulting producer surplus is $300, then the pricemust have beena. $200.b. $300.c. $450.d. $600.

Producer Surplus is the difference between the actual price a producer receives and minimum price he…

Table 7-2 The only four producers in a market have the following costs: Seller Evan Selena Angie Kris Cost $50 $100 $150 $200 8. Refer to Table 7-2. If Evan, Selena, and Angie sell the good, and the resulting producer surplus is $300, th must have been $200

Table 7-2 The only four producers in a market have the following costs: Seller Evan Selena Angie Kris Cost $50 $100 $150 $200 8. Refer to Table 7-2. If Evan, Selena, and Angie sell the good, and the resulting producer surplus is $300, th must have been $200

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

please show your thought process on this Im pretty sure its D but im not 100% confident

Table 7-2
The only four producers in a market have the following costs:
Cost
$50
Selena $100
Angie $150
Kris
$200
Seller
Evan
8. Refer to Table 7-2. If Evan, Selena, and Angie sell the good, and the resulting producer surplus is $300, then the price
must have been
a. $200.
b. $300.
c. $450.
d. $600.

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