Sue’s opportunity cost to produce last bushel of tomatoes is $5 per bushel. The maximum that...
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Sue’s opportunity cost to produce last bushel of tomatoes is $5 per bushel. The maximum that any buyer would pay for that bushel is $9. If Sue sells her bushel of tomatoes for $6, then her producer surplus is equal to ___ (need work shown)
Homework Answers
The Sue's opportunity cost to produce last bushel of tomatoes is $5 per bushel. The maximum that any buyer would pay for that bushel is $9. If Sue sells her bushel of tomatoes for $6, then her producer surplus is equal to 6-5 =$1 (the price minus the cost of tomatoes).
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Sue’s opportunity cost to produce last bushel of tomatoes is $5
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