Which is correct answer? quicky Time left 0:2You and your best friend want to hire a professional photographer to take pictures of your two families. Thecosts of the four potential sellers in the local photography market are: Lebron $700, Kobe $600; Kevin $450 andSteve $400. You and your friend agree to offer $500 for each session. Who accepts the offer, and what is thetotal producer surplus in the market?Select one:a. LeBron and Kobe; $300Ob. Kevin and Steve, $500C.LeBron and Kobe, $500Od. Kevin and Steve, $150Clear my choiceNext pageous page.. Time left 0:25:46A tax placed on sellers of cable TV services willthe price received by buyers of cable and causes thenumber of subscribers toSelect one:a.not change; decreaseOb. raise, decreaseOc.raise; increaseOd. reduce; decreasee. reduce; increaseClear my choiceNext pages page

costs of the four potential sellers in the local photography market are: Lebron $700; Kobe $600; Kevirn Steve $400. You and your friend agree to offer $500 for each session. Who accepts the offer, and wha total producer surplus in the market? Select one: O a. LeBron and Kobe; $300 O b. Kevin and Steve; $500 O C. LeBron and Kobe; $500 Od. Kevin and Steve; S150 Clear my choice Next pac page

costs of the four potential sellers in the local photography market are: Lebron $700; Kobe $600; Kevirn Steve $400. You and your friend agree to offer $500 for each session. Who accepts the offer, and wha total producer surplus in the market? Select one: O a. LeBron and Kobe; $300 O b. Kevin and Steve; $500 O C. LeBron and Kobe; $500 Od. Kevin and Steve; S150 Clear my choice Next pac page

Economics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506725

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter22: Price Takers And The Competitive Process

Section: Chapter Questions

Problem 4CQ

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