Answer Happy

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. PRICE (Dollars per used calculator) 180 150 120 8 8 Sean A Yvette a Bob ボーロ Cho Enc QUANTITY (Used calculators) Ginny Region A (the purple shaded area) represents the total producer surplus when the market price is S represents when the market price while Region B (the grey shaded area) 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 $105 than when it is $90. Assuming each student receives a positive surplus, Bob will always receive more producer surplus than Cho True False

Region A (the purple shaded area) represents the total producer surplus when the market price is $ when the market price represents while Region B (the grey shaded area) In the following table, indicate which statements are true or false based on the information provided on the previous graph Statement True Producer surplus is smaller when the price is $105 than when it is $90. O Assuming each student receives a positive surplus, Bob will always receive more producer surplus than Cho. O In order for Cho to earn a producer surplus of exactly $15 from selling a used calculator, the market price needs to be S Grade It Now False O O Save & Continue