Jonathan purchased coffee for $5 at Jennifer's coffee shop, although he was willing to pay $9. Jennifer was willing to accept $3 for the coffee. The results of this transaction are a consumer surplus of and a producer surplus of $

1) Consumer surplus of $4

2) producer surplus of $2

Explanation:

1) The consumer surplus is the difference between the highest price a consumer is willing to pay and the actual market price of the good or service.

Consumer surplus = Maximum price willing to pay - actual price

Consumer surplus = $9 - $5

Consumer surplus = $4

2) The producer surplus is the difference between the market price and the lowest price a producer would be willing to accept.

Producer surplus = Total revenue - total cost.

Total revenue is the revenue received from selling.

Producer surplus = $5 - $3

Producer surplus = $2

Therefore, the results of the transaction between Jonathan and Jennifer are a consumer surplus of $4 and a producer surplus of $2.

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