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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

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  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.
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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
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