' surplus For each of the scenarios, calculate the surplus and indicate if it is a producer surplus or a consumer Alice is willing to spend $30 on a pair of jeans, and has a coupon for $10 off which she found online. She selects and purchases a $35 pair of jeans which cost $35 pre-discount Alice has a Alice's surplus: $ producer surplus. surplus consumer Nicole has a hockey puck from the 2010 Winter Olympic Games and puts it up for sale on eBay. She will only sell the puck if the winning bid is greater than or equal to $500. After bidding closes, the last bid stands at $50o Nicole has a Nicole's surplus: $ producer surplus. consumer surplus Claire is trying to sell her used calculus textbook online. She asks for $150 or best offer, and is willing to sell for anything over $100. She is able to sell it for $125. Claire has a Claire's surplus: $ consumer surplus O producer surplus Roy is wiing to pay $2.50 for a sports drink. He puts $5.00 into the vending machine and pushes the button for the sports drink wthout noticing that the price has increased to $2.75 until he counts the change he gets back Roy has a Roy's surplus: $ consumer surplus producer surplus.
' surplus For each of the scenarios, calculate the surplus and indicate if it is a producer surplus or a consumer Alice is willing to spend $30 on a pair of jeans, and has a coupon for $10 off which she found online. She selects and purchases a $35 pair of jeans which cost $35 pre-discount Alice has a Alice's surplus: $ producer surplus. surplus consumer Nicole has a hockey puck from the 2010 Winter Olympic Games and puts it up for sale on eBay. She will only sell the puck if the winning bid is greater than or equal to $500. After bidding closes, the last bid stands at $50o Nicole has a Nicole's surplus: $ producer surplus. consumer surplus Claire is trying to sell her used calculus textbook online. She asks for $150 or best offer, and is willing to sell for anything over $100. She is able to sell it for $125. Claire has a Claire's surplus: $ consumer surplus O producer surplus Roy is wiing to pay $2.50 for a sports drink. He puts $5.00 into the vending machine and pushes the button for the sports drink wthout noticing that the price has increased to $2.75 until he counts the change he gets back Roy has a Roy's surplus: $ consumer surplus producer surplus.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter7: Consumers, Producers, And The Efficiency Of Markets
Section: Chapter Questions
Problem 5PA
Related questions
Question
Transcribed Image Text:' surplus
For each of the scenarios, calculate the surplus and indicate if it is a producer surplus or
a consumer
Alice is willing to spend $30 on a pair of jeans, and has a coupon for $10 off which she found online. She selects and
purchases a $35 pair of jeans which cost $35 pre-discount
Alice has a
Alice's surplus: $
producer surplus.
surplus
consumer
Nicole has a hockey puck from the 2010 Winter Olympic Games and puts it up for sale on eBay. She will only sell the puck
if the winning bid is greater than or equal to $500. After bidding closes, the last bid stands at $50o
Nicole has a
Nicole's surplus: $
producer surplus.
consumer surplus
Transcribed Image Text:Claire is trying to sell her used calculus textbook online. She asks for $150 or best offer, and is willing to sell for anything
over $100. She is able to sell it for $125.
Claire has a
Claire's surplus: $
consumer surplus
O producer surplus
Roy is wiing to pay $2.50 for a sports drink. He puts $5.00 into the vending machine and pushes the button for the sports
drink wthout noticing that the price has increased to $2.75 until he counts the change he gets back
Roy has a
Roy's surplus: $
consumer surplus
producer surplus.
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