A producer cooperative is a retail business owned and operated by some or all of its customers in order to reduce costs

Refer to Table 4-1. The table above lists the highest prices three consumers, Curly, Moe, and Larry, are willing to pay for a bottle of champagne. If the price of one of the bottles is $95 dollars, total consumer surplus will be

A) $0. B) $35. C) $80. D) $95.

According to the above table, if the fourth and fifth largest firms in the industry merge, the four-firm concentration ratio in the industry will be

A) 82.5 percent. B) 35.8 percent. C) 69.0 percent. D) 84.1 percent.