Business, 06.05.2020 05:17 aidanfbussiness

Identify whether each of the following statements best illustrates the concept of consumer surplus, producer surplus, or neither.

Statement Consumer Surplus Producer Surplus Neither

a. Even though I was willing to pay up to $59 for a used textbook, I bought a used textbook for only $54.
b. I sold a used laptop for $180 on eBay last week. This week, someone offered me $32 for it.
c. I sold a jersey sweater for $30, even though I was willing to go as low as $25 in order to sell it.

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Identify whether each of the following statements best illustrates the concept of consumer surplus,...

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