The Embarcadero Salon and Lin's Hairplace both sell haircuts. The market price of one haircut is $35. The Embarcadero Salon is willing to sell a haircut for $22; Lin's Hairplace is willing to sell a haircut for $30. What is the total producer surplus for the two salons assuming each sell one haircut? O a) $18 O b) $8 Oc) $22 O d) $5 O e) $35

The Embarcadero Salon and Lin's Hairplace both sell haircuts. The market price of one haircut is $35. The Embarcadero Salon is willing to sell a haircut for $22; Lin's Hairplace is willing to sell a haircut for $30. What is the total producer surplus for the two salons assuming each sell one haircut? O a) $18 O b) $8 Oc) $22 O d) $5 O e) $35

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Consumers, Producers, And The Efficiency Of Markets

Section: Chapter Questions

Problem 7PA

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