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. Given the scenario described, if the market price of hammers increased from $9 to $12, total producer surplus would increase by:

How does the demand curve for an oligopoly firm differ from the demand curves for firms in competitive market structures?

What will be an ideal response?

A defendant believes there is a 70 percent chance that the plaintiff will win $800,000 and a 30 percent chance that the plaintiff will lose and be awarded nothing (zero). The plaintiff believes that there is a 90 percent chance that they will win $800,000 and a 10 percent chance that they will be awarded nothing (zero). The plaintiff's litigation cost is $300,000 and the defendant's litigation

cost is $200,000. The defendant would be willing to pay any amount up to ________ to settle. A) $760,000 B) $700,000 C) $420,000 D) $500,000