Question 6 1.5 pts If Lorax sells a handcrafted wooden statue for $400, and his producer surplus from the sale is $80, his cost must have been O $400 O $480 O $320 O $80 D Question 7 1 pts Suppose that the market price for bourbon increases. The increase in producer surplus comes from the benefit of the higher prices to only existing sellers who now receive higher prices on the bourbon they were already selling O both existing sellers who now receive higher prices on the bourbon they were already selling and new sellers who enter the market because of the higher prices. Producer surplus does not increase; it decreases. O only new sellers who enter the market because of the higher prices.