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In the same market, three sellers (John, George, and Ringo) have the marginal cost ( MC ) schedules shown below. Quantity MC John ($) MC

In the same market, three sellers (John, George, and Ringo) have the marginal cost (MC) schedules shown below.

Quantity MCJohn ($) MCGeorge ($) MCRingo ($)
1 30 20 10
2 60 50 40
3 90 80 70
4 120 110 100
5 150 140 130

If the equilibrium price is $80, calculate the following:

The quantity produced by each seller.

The producer surplus for each seller.

The producer surplus for the market as a whole.

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