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. If the market price of price of hammers increased from $8 to $11:
A. 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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Home » Business » 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.