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Chad paid $35 to buy a potato cannon, a cylinder that shoots potatoes hundreds of feet. He was willing to pay $45. When Chad's friend
Chad paid $35 to buy a potato cannon, a cylinder that shoots potatoes hundreds of feet. He was willing to pay $45. When Chad's friend Sam learns that Chad bought a potato cannon, he asks Chad if he will sell it for $65, and Chad agrees. Sam is thrilled, because he would have paid Chad up to $80 for the cannon Chad is also delighted Determine the consumer surplus from the original purchase and the additional surplus generated by the resale of the cannon. Chad's original consumer surplus: $ Chad's producer surplus from the resale: $ Sam's consumer surplus from the resale: $ Total surplus generated from the resale: $
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