I need help with this week's assignment. I want to make sure I understand correctly. Can you please help or point me in the right direction?

Assume that you were ready to buy a custom tailored men's suit and you are prepared to pay up to $200 for it. Also assume that the tailor is prepared to sell that item of clothing for as little as $100. When you arrive at the tailor shop, the posted price for the item is $150. Discuss how this scenario relates to producer and consumer surplus and how such surpluses, if any, affect buying and manufacturing decisions.