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Sagot :
Answer:
Consumer surplus
Producer surplus
Neither
Explanation:
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.
Consumer surplus = willingness to pay – price of the good
I was willing to pay $49 for the sweater but paid $39, thus the consumer surplus is $10
Producer surplus is the difference between the price of a good and the least price the seller is willing to sell the product
Producer surplus = price – least price the seller is willing to accept
The least amount i was willing to sell my laptop is $100 but i was paid $106 for it. The producer surplus is $6
The third statement is not about consumer or producer surplus. There is no information on the least amount the seller was willing to accept or the highest amount the consumer was willing to sell
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