Ask Question
5 June, 22:19

Jennifer, Tony, and Becky are students in a history class. All three plan on selling their textbooks back at the end of the year. The bookstore will buy each textbook back for $95. Jennifer's willingness to sell is $87. Tony wants to get at least $45 for his book, and Becky wants to sell her book back for $105. Place each student's producer surplus in order, from highest to least.

+4
Answers (1)
  1. 5 June, 22:33
    0
    Highest to Lowest Producer surplus:

    For Tony = $95 - $45 = $50

    For Jennifer = $95 - $87 = $8

    For Becky = $95 - $105 = - $10

    Explanation:

    Producer Surplus : The producer surplus shows a difference between buying price and willingness to sell price

    In mathematically,

    Producer surplus = Buying price - willingness to sell price

    For Tony = $95 - $45 = $50

    For Jennifer = $95 - $87 = $8

    For Becky = $95 - $105 = - $10

    The above categorization of product surplus shows a highest to least product surplus of each student.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Jennifer, Tony, and Becky are students in a history class. All three plan on selling their textbooks back at the end of the year. The ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers