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Joe's Plain-o Bikes makes and sells a single model of a basic single speed bike. Joe sells the bike to low-end bike shops for $75.They
Joe's Plain-o Bikes makes and sells a single model of a basic single speed bike. Joe sells the bike to low-end bike shops for $75.They in turn retail the bike for $150.Joe's cost of making each bike is $25 and his overhead averages out to around another $25. What is Joe's producer surplus per bike?
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