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Please explain Chad paid $25 to buy a potato cannon, a cylinder that shoots potatoes hundreds of feet He was wi lling to pay $45.

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Chad paid $25 to buy a potato cannon, a cylinder that shoots potatoes hundreds of feet He was wi lling to pay $45. When Chad's friend Nick learns that Chad bought a potato cannon, he asks Chad if he will sell it for $65, and Chad agrees. Nick is thrilled, because he would have paid Chad up to $80 for the cannon. Chad is also delighted. Determine the consumer surplus from the original purchase and the additional surplus generated by the resale of the cannon. Chad's originalconsumer surplus: 5 Chad's producer surplus from the resale: 5 Nick's consumer surplus from the resale: $ Total surplus generated from the resale: 5

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