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Question 1 1.25 pts Person Minimum Acceptable Price (Actual Price (Equilibrium Price) Assume that the six people listed in the table are the only producers
Question 1 1.25 pts Person Minimum Acceptable Price (Actual Price (Equilibrium Price) Assume that the six people listed in the table are the only producers in the market, and that the equilibrium price is $7. The total producer surplus generated in this market is $ _________ . Please input only the numerical value without the $ sign. if your answer is $20, please input 20 for your answer. Question 2 1.25 pts Person Maximum Price Willing to Pay Actual Price(Equilibrium Price) Carlos $ 16 Farayi $ 15 12 Spiwe $ 14 12 John $ 13 12 Tariro $ 11 12 Sipho $10 Assume that the six people listed in the table are are the only consumers in the market, and that the equilibrium price is $12, how much consumer surplus will the market generate? The total producer surplus generated in this market is $ _________ . Please input only the numerical value without the $ sign. if your answer is $20, please input 20 for your
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