Question
first blank answer choices are $200, $250, $300, $400
Producer surplus and price changes The following graph shows the supply curve for a group of students looking to sell used gra phi ng calculators. Each student has only one used calculator to sell. Each rectangular segment under the supply curve represents the cost, or minimum acceptable price, for one student. Assume that anyone who has a cost Just equal to the market price is willing to sell his or her used calculator. Area A (the red shaded area) represents total producer surplus when the market price is_____, while Area B (the grey shaded area) represents which of the following? Total producer surplus when the market price is $300 The change in total producer surplus when the market price changes from $450 to $400 Total producer surplus when the market price is $400 The change in total producer surplus when the market price changes from $300 to $400 What does the market price of a used gra phi ng calculator need to be in order for Fabio to gain a producer surplus of $20 from selling a used calculator? $500 $480 $520 $570
Explanation / Answer
$250,
