Suppose you are willing to pay $6.86 for a box of organic raspberries. You buy two boxes at $5.25 per box at a farmers' market. The lowest price the seller would accept is $4.15 a box. This transaction generated (enter numbers with two digits after the decimal point, e.g., 3.20) The consumer surplus $ The producer surplus $ The total gains from trade $

Suppose you are willing to pay $6.86 for a box of organic raspberries. You buy two boxes at $5.25 per box at a farmers' market. The lowest price the seller would accept is $4.15 a box. This transaction generated (enter numbers with two digits after the decimal point, e.g., 3.20) The consumer surplus $ The producer surplus $ The total gains from trade $

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter7: Market Efficiency And Welfare

Section: Chapter Questions

Problem 1P

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Question

Suppose you are willing to pay $6.86 for a box of organic raspberries. You buy two
boxes at $5.25 per box at a farmers' market. The lowest price the seller would accept
is $4.15 a box. This transaction generated (enter numbers with two digits after the
decimal point, e.g., 3.20)
The consumer surplus $
The producer surplus $
The total gains from trade = 24
%3!

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