Homework (Ch 07) 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 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 calculator 400 Valerie 220 - -- Shan PRICE (Dollars per used calculator) 240 Poornima 8 C Manuel Kale 3 Hubert 0 5 QUANTITY (Used calculators) while Region B (the grey shaded area) Region A (the purple shaded area) represents the total producer surplus when the market price is represents when the market price True False the change in total producer surplus In the follo re true or false based on the information provided on the previous graph. the total producer surplus Statemelo Producer surplus is larger when the price is $280 than when it is $200. Assuming each student receives a positive surplus, Manuel will always receive more producer surplus than Poornima. In order for Shen to earn a producer surplus of exactly $120 from selling a used calculator, the market price needs to be Grade It Now Save & Continue Continue without saving Replon A (the purple shaded area) represents the total producer surplus when the market price is ), while Region B (the grey shaded area) represents when the market price Is $280 In the following table, indicate which statements are true or false based on the vious graph is $200 False changes from $320 to $280 Producer surplus is larger when the price is $280 than when it is $200. changes from $200 to $280 Assuring each student receives a positive surplus, Manuel will always receive pornima Statement True 0 In order for Shen to earn a producer surplus of exactly $120 from selling a used calculator, the market price needs to be $ Grade It Now Save & Continue Continue without saving Region A (the purple shaded area) represents the total producer surplus when the market price is 5 represents when the market price while Region B (the grey shaded area) True False In the following table, indicate which statements are true or false based on the Information provided on the previous graph, Statement Producer surplus is larger when the price is $280 than when it is $200. Assuming each student receives a positive surplus, Manuel will always receive more producer surplus than Poornima. OO In order for Shen to earn a producer surplus of exactly $120 from selling a used calculator, the market price needs to be Grade It Now Save & Continue
