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The following graph shows the supply curve for a group of students looking to sell used DVD players. Each student has only one used DVD
The following graph shows the supply curve for a group of students looking to sell used DVD players. Each student has only one used DVD player to sell. Each rectangular segment under the supply curve represents the cost, or minimum acceptable price, for one student. Assume that anyone Iwho has a cost just equal to the market price is willing to sell their used DVD player. 240 200 Megan 150 Larry + 120 B ---------+|e Janet PRICE (Dollars per used DVD player) El 1 2 3 4 5 DUANTITYiUsed DVD players) Region A [the purple shaded area] represents the total producer surplus when the market price is , while region B {the grey shaded area) represents V when the market price v . Compiete the foilowing table by indicating which statements are true or False based on the information provided on the previous graph. Statement True False Producer surplus is larger when the price is $140 versus when it is $100. 0 0 Assuming each student receives a positive surplus, Carlos will always receive more producer surplus than Deborah. O C) There are fewer people selling used DVD players when the market price is $140 than when it is $100. 0 O In order for Megan to earn a producer surplus of exactly $60 from selling a used DVD player, the market price needs to be
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