basic concepts

Identify whether each of the following statements best illustrates the concept of consumer surplus, producer surplus, or neither. Consumer Producer Statement Surplus Surplus Neither I sold a used textbook for $43, even though I was willing to go as low as $33 in order to O O O sell it. A local store was having a sale on sweaters, so I bought a jersey sweater for my brother. O O O O O Even though I was willing to pay up to $74 for a watch, I bought a watch for only $65. O Grade It Now Save & Continue Continue without saving