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Identify whether each of the following statements best illustrates the concept of consumer surplus, producer surplus, or neither. Statement Consumer Surplus Producer Surplus Neither I

Identify whether each of the following statements best illustrates the concept of consumer surplus, producer surplus, or neither.

Statement Consumer Surplus Producer Surplus Neither
I sold a used textbook for $48, even though I was willing to go as low as $40 in order to sell it.
Even though I was willing to pay up to $76 for a watch, I bought a watch for only $68.
I paid $54 for a jersey sweater last week. This week, the same store is selling sweaters for $47.

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