The producer surplus will be $100 or slightly less
What is a bid?
- An offer to purchase an asset from a person or business is referred to as a bid.
- At auctions and on numerous markets, including the stock market, bids are frequently placed by buyers.
- Companies that compete for project contracts may also submit bids.
- When placing a bid, a buyer must specify both the amount they are willing to pay for the item and the amount they are willing to spend on it.
- An investor, trader, or dealer makes a bid when they want to purchase an asset or compete for a contract.
- A trustworthy gauge of the financial instrument's supply and demand is the spread between the bid and the ask.
- The effectiveness and liquidity of the market depend on market makers.
- Live, online, through brokers, or through a closed bidding process are all options for placing a bid.
- Bid types include sealed bids, internet bids, and auction bids.
To learn more about bidding, refer to
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