contestada

Refer to the table. what is the total amount of producer surplus (per barrel of oil) earned by all four producers if the market price per barrel of oil is $51?

Respuesta :

Geophilip

Answer:

81.76

Explanation:

Producer surplus is the difference between the price a producer received for a goods or service minus the price he is willing to sell.

If A willing price is 32

B willing price is 1600

C willing price is 17.25

D willing price is 56.99

Producer surplus is market price minus willing price

A 51 - 32 = 19

B. 51 - 16.00 = 35

C 51 - 17.25 = 33.75

D. 51 - 56.99 = - 5.99

Sum all the producer surplus together

19 + 35 + 33.75 + -5.99

=81.76