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2. Producer Surplus. Determine the amount of producer surplus generated in each of the following situations. a. May lists her used guitar on a trading
2. Producer Surplus. Determine the amount of producer surplus generated in each of the following situations. a. May lists her used guitar on a trading website. She sets a minimum acceptable price, of $100. After ve days of bidding, the nal high bid is exactly $100. She accepts the bid. b. Gray advertises his car for sale on the student bulletin board. He offers a $3,000 selling price, but he is willing to sell the car for any price higher than $2,500. The best offer he got was $2,800, which he accepts. c. Samantha enjoys her job so much that she would be willing to do it without compensation. However, her annual salary is $100,000
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