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The following graph plots a supply curve (orange tine] for a group of recent graduates looking to sell used air fryers. Each seller has only
The following graph plots a supply curve (orange tine] for a group of recent graduates looking to sell used air fryers. Each seller has only a single used air fryer available for sate. Think of each rectangular area beneath the supply curve as the \"cost," or minimum price that each selieris willing to accept. Assume that anyone who has a cost that equals the market price is willing to sell their used air fryer. 150 150 rances 120 ____________+D"""' F'RiCE (Doliars per used air fryer) El 1 2 3 4 5 6 QUANTITY {Used air fryers] Region X (the purple shaded area] represents total producer surplus when the market price is equal to , while Region '1' (the grey shaded area) represents 7 when the market price v . the change in total producer surpius the totai producer surplus In the folrowr'ng - or false based on the Information provided on the prewo us graph. Region X (the purple shaded area) represents total producer surplus when the market price is equal to $ while Region Y (the grey shaded area) represents when the market price In the following table, indicate which statements are true or false based on the information provided on the previous graph. Statement True False Assuming each seller receives a positive surplus, Valerie will always receive less producer surplus than Antonio. O O Producer surplus is larger when the price is $105 than when it is $75. O O In order for Frances to earn a producer surplus of exactly $45 from selling a used air fryer, the market price must be
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