Refer to the table below. (2) Minimum Acceptable (3) Actual Price (Equilibrium Price) $ 8 (1) Person Price Carlos $ 5 Courtney 6 Chuck 7. 8 8 Cindy Craig 8. Chad 10 8 the six people listed in the table are the only producers in the market, and the equili will the market generate?

Refer to the table below. (2) Minimum Acceptable (3) Actual Price (Equilibrium Price) $ 8 (1) Person Price Carlos $ 5 Courtney 6 Chuck 7. 8 8 Cindy Craig 8. Chad 10 8 the six people listed in the table are the only producers in the market, and the equili will the market generate?

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 1CQQ

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Question

Question 16

Refer to the table below.
(2) Minimum Acceptable
(3) Actual Price
(Equilibrium Price)
$ 8
(1) Person
Price
Carlos
$ 5
Courtney
8
Chuck
8
Cindy
8
8
Craig
Chad
10
8
If the six people listed in the table are the only producers in the market, and the equilibrium price is $8, how much producer surplus
will the market generate?
Instructions: Enter your answer as a whole number.
Total producer surplus = $

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