You buy some beads and string from a student on campus to make a bracelet for yourself. You valued the materials at $11 but were charged only $8. Unknown to you, the seller would have sold them for $5. After you make the bracelet, you like it more than the original materials used to make it. You value the bracelet at $16. One day, a random stranger (who values your bracelet at $26) compliments the bracelet and offers you $20 for it, and you decide to sell it to the

stranger What is the total surplus generated from the original purchase of beads and string combined with the sale of the bracelet to the

stranger?

Total surplus - $

Question

Tabitha

Mathematics

12 April, 03:55

You buy some beads and string from a student on campus to make a bracelet for yourself. You valued the materials at $11 but were charged only $8. Unknown to you, the seller would have sold them for $5. After you make the bracelet, you like it more than the original materials used to make it. You value the bracelet at $16. One day, a random stranger (who values your bracelet at $26) compliments the bracelet and offers you $20 for it, and you decide to sell it to the

stranger What is the total surplus generated from the original purchase of beads and string combined with the sale of the bracelet to the

stranger?

Total surplus - $

+3

Answers (1)

Know the Answer?

Collin Holder · Answer 1

Answer: the surplus is 12$

Step-by-step explanation:

You only need to calculate what you bought it for and what you sold it for

You bought the materials for eight dollars and sold the materials/bracelet for 20, 20-8 means you have a surplus of 12 dollars