Ask Question
BusinessBusiness
30 August, 21:43

James is willing to sell his ipod for $20, and the going price on ebay is $15. Given this information, what would be the producer surplus for James? a. $20 b. $15 c. $0 o d.$5 $5

+4
Answers (2)
  1. 30 August, 21:55
    0
    c. $0

    Explanation:

    Producer surplus is the difference between the amount a producer (in this case James) is willing to sell a product and the market price. In this case the market price is higher than the price James is willing to sell. Therefore the producer surplus is zero.
  2. 30 August, 21:59
    0
    c. $0

    Explanation:

    As the producer surplus is the difference between theminimum price the selles accept to sale and the market price of the good.

    In this case the ipod is worth $15 while Jame's price is $20 Thus there is no surplus James mostly won't even sale his ipod.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “James is willing to sell his ipod for $20, and the going price on ebay is $15. Given this information, what would be the producer surplus ...” 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
You Might be Interested in
If one nation becomes more efficient than another nation of producing a specific product the more efficient nation is said to have
Answers (1)
How to calculate net income from retained earnings and dividends?
Answers (1)
Burns outlined leadership in his seminal work in 1978 and described leadership as
Answers (1)
On January 1, 2014, Borstad Company purchased equipment for $1,180,000. It is depreciating the equipment over 25 years using the straight-line method and a zero residual value.
Answers (1)
Maria meets all of the requirements of § 1237 (subdivided realty). In 2017, she begins selling lots and sells four separate lots to four different purchasers. She also sells two contiguous lots to another purchaser.
Answers (1)
New Questions in Business
What is the difference between capital gain and capital loss?
Answers (1)
g The Council of Economic Advisors to the President of a country reported gross investment expenditure at $400,000 during a particular year.
Answers (1)
What are the order of in which management can take legal action against a employee
Answers (1)
What best describes an entrepreneur? a. Someone who initiates and assumes the financial risk of a new business enterprise. b. A person who knows how to evaluate which stocks to purchase. c. Someone who can expertly manage other people's investments.
Answers (1)
JRN Enterprises just announced that it plans to cut its dividend from $3.50 to $2.50 per share and use the extra funds to expand its operations.
Answers (1)
Home » Business » James is willing to sell his ipod for $20, and the going price on ebay is $15. Given this information, what would be the producer surplus for James? a. $20 b. $15 c. $0 o d.$5 $5
Sign Up Forgot Password?