Stefano has just completed an original oil painting. After considering the costs for brushes, paint, canvas, and the value of Stefano's labor time, the marginal cost of the painting is $1,000. Lucky Stefano. One art lover paid him $1,500

How much producer surplus did Stefano obtain? A) The amount of producer surplus cannot be determined from the information given.
B) $1,500
C) $1,000
D) $500


D

Economics

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