Alejandro owns a store specializing in soccer jerseys. In 2012, he purchased $150,000 worth of jerseys from manufacturers, employed one worker for $40,000, purchased $20,000 worth of supplies from an office supply store, and sold jerseys for $280,000. Based on this information, what was the value added (producer surplus) at Alejandro's store in 2012? $490,000 $280,000 $110,000 $70,000
Alejandro owns a store specializing in soccer jerseys. In 2012, he purchased $150,000 worth of jerseys from manufacturers, employed one worker for $40,000, purchased $20,000 worth of supplies from an office supply store, and sold jerseys for $280,000. Based on this information, what was the value added (producer surplus) at Alejandro's store in 2012? $490,000 $280,000 $110,000 $70,000
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Alejandro owns a store specializing in soccer jerseys. In 2012, he purchased
$150,000 worth of jerseys from manufacturers, employed one worker for $40,000,
purchased $20,000 worth of supplies from an office supply store, and sold jerseys
for $280,000. Based on this information, what was the value added (producer
surplus) at Alejandro's store in 2012?
$490,000
$280,000
$110,000
$70,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F68d7f634-e679-47e3-bc2c-dbe4806844b5%2Fd9894055-e6d8-45fd-9420-a707e60c702b%2Fcjious8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Alejandro owns a store specializing in soccer jerseys. In 2012, he purchased
$150,000 worth of jerseys from manufacturers, employed one worker for $40,000,
purchased $20,000 worth of supplies from an office supply store, and sold jerseys
for $280,000. Based on this information, what was the value added (producer
surplus) at Alejandro's store in 2012?
$490,000
$280,000
$110,000
$70,000
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