Identify whether each of the following statements best illustrates the concept of consumer surplus, producer surplus, or neither. Statement | Consumer Surplus | Producer Surplus | Neithera. Even though I was willing to pay up to $67 for a used textbook, I bought a used textbook for only $58. b. I sold a jersey sweater for $31, even though I was willing to go as low as $24 in order to sell it. c. I sold a used laptop for $200 on eBay last week. This week, someone offered me $34 for it.

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18 December, 02:25

Identify whether each of the following statements best illustrates the concept of consumer surplus, producer surplus, or neither. Statement | Consumer Surplus | Producer Surplus | Neithera. Even though I was willing to pay up to $67 for a used textbook, I bought a used textbook for only $58. b. I sold a jersey sweater for $31, even though I was willing to go as low as $24 in order to sell it. c. I sold a used laptop for $200 on eBay last week. This week, someone offered me $34 for it.

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Jagger Cummings · Answer 1

(A) Consumer Surplus: Even though I was willing to pay up to $67 for a used textbook, I bought a used textbook for only $58.

It paid less than we was willing to.

(B) Producer Surplus: I sold a jersey sweater for $31, even though I was willing to go as low as $24 in order to sell it.

It receive more than their minimun sales price.

(C) Neither: The offer from the third party wasn't accepted. Also we have no information about how much was the seller willing to accept for the laptop