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Suppose five construction companies have the ability to build a factory overseas to produce a manufactured good

Economics

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 $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?

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