E V Q Illinois State University :.. Dylan v My Home Courses Catalog and Study Tools Rental Options College Success Tips Career Success Tips Think Before You Drop! The Consequences of... C 9 Help J Give Feedback 51': e G 0 Q G) ng.cengage.com C : MindTap - Cengage Lear... u Course Hero | Make ever... u Log In | Course Hero u Course Hero u Course Hero '2: CENGAGE | MINDTAP Assignment 9 Back to Assignment Attempts I I Keep the Highest I 3 7. Producer surplus and price changes The following graph shows the supply curve for a group of students looking to sell used graphing calculators. Each student has only one used calculator to sell. Each rectangular segment under the supply curve represents the \"cost," or minimum acoeptable 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 calculator: 420 350 E N _ Becky 5 250 5 Alex a, ____________+ ,0 r r = 3-, 210 , , , , , n. 3 2\" Susan 9140 HI 2 K o. 70 0 . . . i 0 1 2 3 4 5 6 QUANTITY (Used calculators) u Course Hero Q Search this course 0X E V 7% $1? 6 0 Q G) Bng.cengage.com C + SE Q Illinois State University: . '1' MindTap - Cengage Lear... u Course Hero | Make ever... u Log In | Course Hero u Course Hero u Course Hero u Course Hero ; Dylan v i: CENGAGE I MINDTAP Q Search this course ' My Home Assignment 9 0 X g ____________1Ai.x 5 Courses g 3-, 210 B n. Catalog and Study Tools E E Q 140 Rental Options 5 n: n. 13 College Success Tips 7 Career Success Tips 0 , . . '> o 1 2 3 4 5 6 QUANTITY (Used calculators) Think Before V0\" Drop! The Region A (the purple shaded area) represents the total producer surplus when the market price is s , while Region B (the grey shaded area) Consequences f--- represean 7 when the market price v . 9 HEIP In the following table, indicate which statements are true or false based on the information provided on the previous graph. J Give Feedback Statement True False Producer surplus is larger when the price is $245 than when it is $175. Assuming each student receives a positive surplus, Larry will always receive less producer surplus than Megan. In order for Becky to earn a producer surplus of exactly $70 from selling a used calculator, the market prlce needs to he s Grade It Now Save & Continue Continue without saving