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Suppose five construction companies have the ability to build a factory overseas to produce a manufactured good. The marginal cost of building a factory for
Suppose five construction companies have the ability to build a factory overseas to produce a manufactured good. The marginal cost of building a factory for each construction company is shown in the table below: Producer Marginal Cost Company $1,000,000 Company 2 $1,250,000 Company 3 $1,300,000 Company 4 $1,350,000 Company 5 $1,500,000 If the market price of an overseas factory is $1,375,000, what is the surplus for these five companies? Producer surplus is $ . (Enter your response as a whole number.)
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