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Identify whether each statement in the following table best illustrates the concept of consumers' surplus, producers' surplus, or neither. table [ [ Statement ,
Identify whether each statement in the following table best illustrates the concept of consumers' surplus, producers' surplus, or neither.
tableStatementtableConsumersSurplustableProducersSurplusNeithertableI sold a used smart watch for $ even though I was willing to go as low as $ inorder to sell ittableI paid $ for a used football jersey last week. This week, the same store is sellingjerseys for $tableEven though I was willing to pay up to $ for a cell phone, I bought a one for only$
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