240 200 Eileen 160 Clancy 120 В %23 Вecky A Alex Susan 40 Raphael 1 3 4 5 6 QUANTITY (Used smartphones) Region A (the purple shaded area) represents the total producer surplus when the market price is $ , while Region B (the grey shaded are represents when the market price In the following table, indicate which statements are true or false based on the information provided on the previous graph. Statement True False Producer surplus is larger when the price is $140 than when it is $100. Assuming each student receives a positive surplus, Alex will always receive less producer surplus than Becky. In order for Eileen to earn a producer surplus of exactly $60 from selling a used smartphone, the market price needs to be $ PRICE (Dollars per used smartphone)
240 200 Eileen 160 Clancy 120 В %23 Вecky A Alex Susan 40 Raphael 1 3 4 5 6 QUANTITY (Used smartphones) Region A (the purple shaded area) represents the total producer surplus when the market price is $ , while Region B (the grey shaded are represents when the market price In the following table, indicate which statements are true or false based on the information provided on the previous graph. Statement True False Producer surplus is larger when the price is $140 than when it is $100. Assuming each student receives a positive surplus, Alex will always receive less producer surplus than Becky. In order for Eileen to earn a producer surplus of exactly $60 from selling a used smartphone, the market price needs to be $ PRICE (Dollars per used smartphone)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:(?
240
200
Eileen
160
Clancy
120
В
%23
Becky
80
A 다
Alex
Susan
40
Raphael
1
2
3
4
QUANTITY (Used smartphones)
Region A (the purple shaded area) represents the total producer surplus when the market price is $
while Region B (the grey shaded are
represents
when the market price
In the following table, indicate which statements are true or false based on the information provided on the previous graph.
Statement
True
False
Producer surplus is larger when the price is $140 than when it is $100.
Assuming each student receives a positive surplus, Alex will always receive less producer surplus than Becky.
In order for Eileen to earn a producer surplus of exactly $60 from selling a used smartphone, the market price needs to be $
PRICE (Dollars per used smartphone)
LO
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