Business, 02.04.2020 19:28 lexiremmickp6mlxe

Assume there are three hardware stores, each willing to sell one standard model hammer in a given time period. House Depot can offer their hammer for a minimum of $7. Lace Hardware can offer the hammer for a minimum of $10. Bob's Hardware store can offer the hammer at a minimum price of $13.Given the scenario described, if the market price of hammers increased from $8 to $12, producer surplus woulda. total producer surplus would increase by $3.
b. total producer surplus would increase by $6.
c. total producer surplus would increase by $9.
d. total producer surplus would increase by $4.

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