Determining the marginal benefit

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The price of a shirt is $20. Charlie can produce a shirt at a marginal cost of $10, Mac can produce a shirt for $18, and Dennis can produce a shirt for $22. For a shirt, Deandra has a marginal benefit of $25. Frank has marginal benefit of $20, and Artemis has a marginal benefit of $18. Which of the following statements is correct?

The sum of consumer surplus is $5 and the sum of producer surplus is $12.

The sum of producer surplus is $10.

Only Frank and Artemis will purchase a shirt.

The sum of consumer surplus is $12.

Only Dennis will produce a shirt.

Reference no: EM133080339

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