Assume that in the market for spear guns.the market price is 345. Firm A can produce a gun at a cost of 333 for Firm B the cost is 335 and for Firm C it is 352 In this case, quantity supplied will be __ spear gun(s) and the resulting producer surplus is __ 2; 20 2; 22 1: 8 1; 12

To determine the quantity supplied and the resulting producer surplus, we need to compare the market price with each firm's production cost.<br /><br />1. **Firm A**: <br /> - Cost: \$333<br /> - Market Price: \$345<br /> - Since the market price is higher than the cost, Firm A will supply spear guns.<br /> - Producer Surplus for Firm A = Market Price - Cost = \$345 - \$333 = \$12<br /><br />2. **Firm B**:<br /> - Cost: \$335<br /> - Market Price: \$345<br /> - Since the market price is higher than the cost, Firm B will supply spear guns.<br /> - Producer Surplus for Firm B = Market Price - Cost = \$345 - \$335 = \$10<br /><br />3. **Firm C**:<br /> - Cost: \$352<br /> - Market Price: \$345<br /> - Since the market price is lower than the cost, Firm C will not supply spear guns.<br /><br />Now, let's calculate the total quantity supplied and the total producer surplus:<br /><br />- **Quantity Supplied**: Firms A and B will supply, so the quantity supplied is 2 spear guns.<br />- **Total Producer Surplus**: \$12 (Firm A) + \$10 (Firm B) = \$22<br /><br />Therefore, the quantity supplied will be 2 spear guns, and the resulting producer surplus is \$22.