QUESTION 13 The accompanying table shows the costs, to five people, of producing

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QUESTION 13 The accompanying table shows the costs, to five people, of producing a particular commodity Producer Production Cost ($) Kyle Nathan Chelsea Hillary Landon If the sale price of the product is $1,100, Chelsea's producer surplus is $ your numerical answer. For instance, if you think the answer is $5.55, simply enter 5.55) 1,500 1,200 1,000 750 500 (Please enter your answer in the box provided. Enter only QUESTION 14 The accompanying table shows the costs, to five people, of producing a particular commodity. Producer Production Cost ($) Kyle Nathan Chelsea Hillary Landon If the sale price of the product is $1,100, the total producer surplus of all who will produce the commodity is$ answer in the box provided. E only your numerical answer. For instance, if you think the answer is $5.55, simply enter 5.55.) 1,500 1,200 1,000 750 500 (Please enter your

Explanation / Answer

13. $ 100 (Producer surplus is measured as the amount a seller is paid minus the cost of production).

14. $ 550 (Kyle and nathan has a loss of $500 and Chelsea, Hillary and Landon has profit of $ 1050. The difference of profit and loss= 1050 - 500 = $ 550)

15. e. B+C

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