Question

6. Producer surplus and price changes The following graph shows the supply are a group of students looking to sel used statistics textbook토 Each student has on yone used textbook to sel. Each rectangular segment under the supply curve represents the "cnst,ar minmum accoptable price, for ane student. Assume that anyone who has a cast just equal to the market price is wiling to sell his or her used texthook 200 Susan Raphad 1220 Megan Lamy OLIANTITY Usedtextbooks) Regian A (the purple shaded area) represents the total producer surpus when the market price S whle Region B (the grey shaded are) represents when the market price In the folloming tabke, indicate which staterments are true or talse based on the intomation provided on the prewous graph Assuming each student receives a positive surplus, Lamy will always receive more producer surpks than Megan Producer supus is larger when the price $140 than when it $100. In order for Susan to can a producer surplus of exactiy $60 from seling a used texthook, the market price noeds to be S

Answer 1