6. Producer surplus and price changes The following graph shows the supply curve for a group of students looking to sell

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6 Producer Surplus And Price Changes The Following Graph Shows The Supply Curve For A Group Of Students Looking To Sell 1 (41.82 KiB) Viewed 20 times

6. Producer surplus and price changes The following graph shows the supply curve for a group of students looking to sell used graphing calculators. Each student has only one used calculator to sell. Each rectangular segment under the supply curve represents the "cost," or minimum acceptable price, for one student. Assume that anyone who has a cost just equal to the market price is willing to sell his or her used calculator. ? 300 250 ☐ while Region B (the grey shaded area) True False PRICE (Dollars per used calculator) 200 150 100 50 n 0 Hubert 0 0 00 1 A D DO Kate #"O + Manuel 0+ Poornima Shen ロロ + 0 2 3 4 6 QUANTITY (Used calculators) Region A (the purple shaded area) represents the total producer surplus when the market price is S represents the change in total producer surplus when the market price changes from $200 to $175 In the following table, indicate which statements are true or false based on the information provided on the previous graph. Statement Producer surplus is smaller when the price is $175 than when it is $125. Assuming each student receives a positive surplus, Manuel will always receive more producer surplus than Poornima. In order for Valerie to earn a producer surplus of exactly $50 from selling a used calculator, the market price needs to be $ Valerie 5