6. Producer surplus and price changes The following graph shows the supply curve for a group of students looking to sell used math textbooks. Each student has only one used textbook 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 textbook. 250 Maria 200 Kevin RICE (Dollars per used textbook) 150 B Hilary Edison IMG 5129jpg\fQUANTITY (Used textbooks) Region A (the purple shaded area) represents the total producer surplus when the market price is|5 while Region B (the grey shaded area) represents when the market price In the following table, indicate which statements are true or false based on the information provided on the previous graph. Statement True False Producer surplus is smaller when the price is $175 than when it is $125. O O Assuming each student receives a positive surplus, Brian will always receive more producer surplus than Crystal. O O In order for Kevin to earn a producer surplus of exactly $50 from selling a used textbook, the market price needs to be